The fall of Canada's Manulife

[LargoWinch]

How to destroy a Canadian icon? Follow this simple recipe:

That Manulife sold contracts to investors that promised guaranteed investment returns, did not hedge the risk (as other insurers had done),

You look however like a genius on the way up, especially since with no hedges in place you can beat your competition by a few extra BPS...

Article link:
http://business.theglobeandmail.com/...umnsBlogs/home