In 1981, in the days when bond traders were masters of the universe, my then boyfriend had just joined the mighty firm of Salomon Brothers. At the crack of dawn one morning the new recruits gathered to be addressed by John Gutfreund, CEO. At the end of the talk one thrusting, fawning, young thing put up his hand and said: "Sir, have you got any advice for us?"

"Sure", said Gutfreund, taking a puff on his first fat cigar of the day. "When you come to work in the morning, you've gotta be ready to bite the ass off of a bear."