Leveraging thirty-two to one
Author: raj
Category: Finance
Via The Epicurean Dealmaker: Remember the Alamo
- Do not borrow short and lend long
- Do not overlever securities which might become illiquid
- Do not believe your own hype
- Do stick to your knitting
Bundchen on quaaludes, mojitos, and Spanish Fly thirty-two to one.
Keynes:
The market can stay irrational longer than you can stay solvent.
Or this little beauty, from the pen of George Santayana:
Those who cannot remember the past are condemned to repeat it.