The Swiss Bank giant has lost money and top personnel in 2021 and is downsizing. I have no sympathy for Swiss banks that destroyed the bank accounts of the Jews trapped in Nazi-occupied countries and never tried to find their legal inheritors after the war. Pirates, their reputation is gone. When they lost their secret list of depositors, harming many Israelis and Jews, that was the beginning of the end. When in a fit of wokeness hired a Senegalese to manage the bank, who wrecked the bank, I concluded that they have lost their cold Lutheran minds, and the bank is doomed. So it is. Its shares are collapsing, it lost 21% in the last week, underperforming the S&P 500 by a huge margin. Further, the same trend was observed over the last ten days (-24%) and one month (-22%). This ugly giant is kaputt. The Swiss still are the wealthiest people on Earth and will not starve.
How the world changes! I wanted to illustrate this note with a caricature of a Swiss Gold-mining Gnome, but they have totally disappeared from the internet. Apparently, the Zurich gnomes became toxic and offensive and google has erased their memory.
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