Bank Identity and Hedge-Fund Culture

(Bloomberg) A bank’s net income is just an arbitrary point on a distribution hopefully centered around some number greater than zero, and it isn’t quite fair to talk about year-over-year percentage changes, but still you never want it to fall by 98 percent:

Deutsche Bank AG said Wednesday that its second-quarter net income fell 98% from a year earlier, hurt by weaker performances in trading, investment banking and other core areas.

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