The Rewind: Global Financial Crisis
The Memo by Howard Marks
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Private Equity Deals - What Have We Done?
Howard Kurtz: Leverage is a hallmark of every boom and every optimistic period. He says in heady times, when everybody's thinking positive, they want to leverage up their investments. The more money you have to service your debt, the less likely you are to get through on the bad days, he says. "The idea of survival on average is not a good idea," Kurtz adds.
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