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The Market's Verdict is in – There are indeed winners and losers
Warren, ole buddy, you need to take it like a man.
For the purposes of this discussion our poster boy is Warren Buffet. Let's pretend that Warren has a net worth of $10 billion. Let's presume that Warren's balance sheet says he's got $1 trillion in Assets and he's got $990 billion in Liabilities. Why hasn't Warren Buffet's money been wiped out? The market's verdict is in -- he should be.
Yes … yes … there's that little rub called leverage. Funny thing about leverage though … it runs down hill just like other stuff. In other words, the way to dismantle a pyramid scheme is from the top down. We seem to be going bottom up.
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