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A Retrospective on the First 100 Episodes of the Alpha Exchange

Alpha Exchange

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Leverage and the Asian Financial Crisis

The l t c m unwine was personally very formative for me. The size of the portfolio and the nature of the risks within it made it impossible to successfully unwind. We don't see f x crisis events to the extent we used to, but there have been some meaningful episodes along the way. And so you have this fantastic de leverge, ugly, brutal deleverging that destroys value and way over does things.

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