Petard

The Devil’s Advocate™ Go Premium Archegos risk management yesterday. In which the curmudgeonly old sod puts the world to rights. Index — Click ᐅ to expand: The Devil’s Advocate Comments? Questions? Suggestions? Requests? Insults? We’d love to 📧 hear from you. Sign up for our newsletter.

{{quote:HAMLET: Let it work,
For ’tis the sport to have the enginer
Hoist with his own petard; and ’t shall go hard
But I will delve one yard below their mines
And blow them at the moon. }}

Petard
/pɛˈtɑːd/ (n.)
From French: a small bomb comprising a box filled with powder, used to blast down a door or to make a hole in a wall. A squib; a firecracker. If it goes off it will frighten the bejesus out of the financial analyst community and may cause a bank run.

Note, to hoist something is to blow it up, not to raise it.

Hence, to be hoist by one’s own ~: to blow oneself up. Something that financial institutions are periodically prone.

See also

• Lucky
• The first rule of Systemic Solvency Club