"Never penalize those who work for us for mistakes or reward them for being right about markets. It will go to their heads, is counterproductive and, in any event, material compensation will not correlate with their ability to predict the future next time."
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“'The only perfect hedge is a Japanese garden': Speech to the National Association of Corporate Treasurers." (1990)
https://en.wikiquote.org/wiki/Eugene_Rotberg
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Eugene Rotberg
Gene Rotberg (January 19, 1930 – October 6, 2025) was an American lawyer and international investment banker and was an expert on risk taking, interest and exchange rates, financial market regulation, and the role of international development institutions. He served as vice president and treasurer of the World Bank from 1968 to 1987, responsible for overall funding and investment operations.
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