Editor's Letter: Was the financial gain worth all the pain?

He was of the opinion that, given the complexity of the technologies deployed to support the trading of credit instruments (and the obvious price tags and implementation timeframes accompanying such offerings), it was more than likely that a number of asset managers had been burned in their quest for alpha in the credit markets. He reasoned that asset managers' technology costs - which, he argued, were disproportionately high for credit compared with other asset classes and technology

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