Deal of the Century?

UBS' Acquisition of Credit Suisse

Short, subscriber-only comment on UBS today. Post-summer programming resumes next week. Have a good (long) weekend — Marc. 

In his book, Zero to One, Peter Thiel introduces a useful heuristic on competitive positioning. “Both monopolists and competitors are incentivised to bend the truth,” he writes. His argument is that the more dominant a firm’s positi…