Dry Powder: Where to Park Your Cash
Many Happy Returns
Many Happy Returns Podcast
Every company, if it's successful over the long term, turns into a bank. I don't see any practical difference between an unregulated money market fund and a bank. It's always tempting to offer people credit to buy your own products. That's a nice business model to have. China's been doing that for a long time. Let's just wait and see how many of these car loans go bad.
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