The reason for the disappointment is clearly the higher- than-expected expenses.

The results seem quite strong and the cost commitment is visible.

This isn't really the way that investors want to see Credit Suisse boost profits.

The numbers aren't good at all, especially because of the costs. Even without what was recently disclosed, investment banking, wealth and. Asset management and even non-life insurance looks heavy on costs.

Bond is the longest-running franchise ever and there's a reason for that: they are action movies but they are also touched by current events without being political or too serious.

This is a major disappointment.