SoftBank’s chief executive officer, Masayoshi Son, says he is embarrassed and remorseful after the company reported record losses. A little humility would help leaven SoftBank’s aggressive investment style and probably lift returns over the long run. But the odds are not necessarily in investors’ favour — next time markets bubble up again, Son’s brash style may resurface as well.

The Japanese technology investor on 8 August reported its biggest quarterly loss ever: $23.4bn for the three months ending in June. Investment losses on its $100bn Vision Fund and its predecessor amounted to $22bn for the quarter.