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Ep. 1189: Know the Rule with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
The Importance of NOLs
Buffett didn't want to buy textile or family, but they had NOLs. So he used the NOLs not to pay taxes, which is in no book. The merger gave him all his tax-free earnings. A couple of years later, he got fully out of the textile business. You wouldn't have known that.
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