Haiku of the month

“Bank of England talks up hopes of strong recovery”

Headline on the home page of www.timesonline. co.uk, 11 November 2009

“Bank of England governor dampens hopes of swift UK recovery”

Headline on the home page of www.guardian. co.uk, 11 November 2009

“If there is one inescapable conclusion we all have seen this year regarding placement agents, their firms and employers, it is this: just as lobbyists attempt to influence legislative or administrative decisions, placement agents attempt to influence the investment of state pension funds.”

California Public Employees Retirement System president Rob Feckner says in a letter to the pension's board that placement agents should be subject to the same tough rules that apply to lobbyists under Californian law

[The industry] “tried to commit mass suicide and almost pulled it off.”

Madison Dearborn Partners chairman John Canning on the state of private equity, part of three hours of back-to-back presentations by 11 well-known financiers at the first “Invest for Kids” conference at Chase Auditorium, Chicago

“When you have seen people die in front of you, it puts things into perspective. It makes you realise how privileged we all are to work here.”

In a Financial Times interview, 3i chief executive Michael Queen recalls being held hostage for 40 hours in the Oberoi Hotel in Mumbai during a terrorist attack a year ago in which more than 30 people died

“When you do deals in China it is like (buying) antiques. It is greater risk, tougher to find, you may get cheated easily. But if you know how to work in this market, you will always find deals that are attractive.”

David Liu, head of Greater China for Kohlberg Kravis Roberts, speaking at the AVCJ Private Equity and Venture Capital Forum in Hong Kong, quoted by Reuters