Innovative financing and all the money in the world

...continuted from yesterday...

There’s a chapter about the financial industry in All the Money in the World: How the Forbes 400 Make--and Spend--Their Fortunes…

A salient observation by the authors is that whenever large fortunes are made in the financial industry, it's based on a new innovation such as LBO, creative use of Junk Bonds, and so on. Too bad the authors didn't report on what new innovation Warren Buffet used...

...back newt week...

Copyright 2008 Raymond T. Lee. All rights reserved.
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