Warren Buffett on Long Term Capital Management
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Top Comments
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Super point of view.
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You only have to get rich once. Tell that to Bernie Madoff!
All Comments (14)
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Which MBA school was this speech held at?
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@luckydogvegas you're an idiot. The Fed didn't bail out LTCM, a consortium of the most powerful banks in the world did.
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NOt bad people? Weren't they the first ones trying to exploit the deregulated derivative market? Over leveraged to the teeth? someone feel free to correct me if I'm off base!
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Great video
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So when Bear Sterns came to the water fountain, it only got drips of water (huh something must be wrong with the piping
- not enough flow), so Bear Sterns died of thirst. Wait - he is not dead yet - here comes the Vultures to harvest those organs. Sometimes the water fountain works, sometimes it doesn't. We can't let the whole world lose faith in our system of water fountains.
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Remember Bear Sterns did not want to shell out
a dime to bail out LTCM. Then JP Morgan eventually bought Bear Sterns for around 10 bucks a share (after pissing off investors with an offer of 2 bucks a share) and left guys like Joe Lewis from the Bahamas who paid $860.4 million for a 7 percent stake @ $107/share looking like 'inverse rocket scientist.'
article on this video on james cox finance blog
xZExROx 3 years ago