This episode is brought to you by Hard Lessons, a Morgan Stanley podcast.
Iconic investors like Stan Druckenmiller, John Gray, and Rick Reeder break down calls that worked.
I knew that this stock would go up for at least two or three years and go up a lot.
Ones that didn't.
I quite frankly thought the company could have reversed course.
They didn't.
And what they learned in between.
When you buy everything and it goes up, it doesn't train you to be a great investor.
It's these hard lessons that make all the difference.
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Good morning from the Financial Times.
Today is Tuesday, September 22nd, and this is your FT News Briefing.
Russian payments have gotten around banking sanctions, and Polymarket is making a play for Europe.
Plus, Germany's political crisis is now the EU's problem.
I'm Sonia Hudson in for Mark Filipino, and here's the news you need to start your day.
The FT's Chris Cook helped break this story, and he joins me now to talk about it.
Hi, Chris.
Hiya.
Before we get into how this scheme worked, can you start by telling us about the backdrop here?
What is this alternative payment system called A7 and how does it tie in with Russian sanctions?