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#53 Howard Marks: Luck, Risk and Avoiding Losers
The Knowledge Project with Shane Parrish
Do We Invest or Not?
Ani Hart: Crises are complicated, and it's hard to give a linear description of their formation. But in general, as we'll discuss later about the book, cycles are all about excesses in their crcorrection. And so the financial crisis grew out of excesses, which were then corrected painfully. It culminated in the bankruptcy of leman brothers on september fifteenth, two thousand and eight.
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