I think this executive and all those who want to bury this guy are missing an important point.
In financial markets, you cannot judge performance simply by results, because it is very difficult to determine whether the good performance was due to any intelligent effort or simply due to good luck. Those guys making money off CDS were also being profitable for a long time. But now we know what they were doing was utterly shortsighted
So if this guy wants to prove that he deserves that bonus, he should show that he was doing something intelligent. If he knows this, than his letter is a deception. If he does not know this, he is not really that smart and does not deserve that bonus.
In financial markets, you cannot judge performance simply by results, because it is very difficult to determine whether the good performance was due to any intelligent effort or simply due to good luck. Those guys making money off CDS were also being profitable for a long time. But now we know what they were doing was utterly shortsighted
So if this guy wants to prove that he deserves that bonus, he should show that he was doing something intelligent. If he knows this, than his letter is a deception. If he does not know this, he is not really that smart and does not deserve that bonus.