Predictions are difficult, especially about the future; or so the old Danish joke goes. But that has not prevented financial pundits from feverishly speculating this autumn about the future of finance — and debating who predicted the 2008 financial crisis.
As the postmortems pile up, there is another intriguing question to ask: how does the trajectory of finance look today, compared to what we expected a decade ago? My own answer is: “a bit surprising”.
Most notably, if you look at how finance has evolved, there are at least five features that seem distinctly counter-intuitive — even odd — in light of the narrative of those panic-stricken days after Lehman Brothers collapsed.
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