Jim Power: As well as banking, SVB turmoil reveals vulnerability of the tech sector
Warren Buffett's warning — that over-exposed firms often only run into trouble when the going gets rough — is playing out in real time amid the banking turmoil which is closely linked to the tech sector. File picture
The legendary Warren Buffett once famously said that it is “only when the tide goes out that you learn who has been swimming naked”.
That is very much how it appears over the past couple of weeks. The tide has gone out and global financial system has been thrown into the eye of a storm as a still small, but significant, number of naked financial institutions have descended into deep distress.
