From Karl Marx’s vampire to Warren Buffett’s moat, the crumbling gothic castle has been capitalism’s favorite metaphor for 250 years

From Karl Marx’s vampire to Warren Buffett’s moat, the crumbling gothic castle has been capitalism’s favorite metaphor for 250 years

Jamie Dimon’s “fortress” and Warren Buffett’s “moat” come from the same place as Dracula’s castle, and this week AI put both to the test.

From Marx’s vampire to Buffett’s moat, the gothic castle is still Wall Street’s favorite metaphor

Markets are ushering in a particularly gothic Halloween as the AI trade exposes a crumbling aristocratic pile of early 21st century capitalism. Wall Street has been describing itself in castle-adjacent terms for years. Jamie Dimon has long talked to JPMorgan shareholders about the bank’s “fortress balance sheet.” His 2015 letter set aside a section to […]