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Investing rule number one, don’t lose money

This excerpt from the book Snowball explains why taking debt to make up losses is tempting but not good.

“The advent of the Bloomberg terminal, symbol of the new computerized trading, mirrored the ongoing struggle over Salomon’s…


Derivatives explained

Excerpt from the book The Snowball: Warren Buffett and the Business of Life

“At the time that Buffett invested in Salomon, the market was near a breaking point. In his shareholder letter the previous March, he had said that money managers were so hyperkinetic they…