I can’t deal with the incredible jealousy I have for the hedge funds that promised people 1 per cent a month with no drawdowns. They raised $1bn, each one of them, bought a bunch of mortgage-backed securities and, lo and behold, returned 1 per cent a month. Until ...

Every impossible promise has an “until”. But by the time the until happened, our friends with the promises had made incomes of $10m-$100m a year, enjoying the feast provided by the securitised housing industry. But, OK, I’m over it. I ranted, I lived in the past, and now it’s time to look towards the future, towards happier times created by our own ingenuity.