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Value After Hours S05 E15: Buffet's Japan Carry Trade, Simple Rules allow for Emergent Behavior

The Acquirers Podcast

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The Importance of Simple Rules

D. Hawk helped invent a network of competing cards between, and he also became the CEO of a company that was owned by its member banks. He coined this term called chaotic, which is a portmanteau of chaos and order together. Simple clear purpose and principle principles give rise to complex, intelligent behavior, complex rules and regulations give rise to simple, stupid behavior. And I think, you know, Berkshire, is kind of similar. Like it's got some ground rules that it follows, but otherwise it's very decentralized.

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