from Harvard Law School. In 1991 he was a
Note: i like this pp
the lesson of Buffett was: To succeed in a spectacular fashion you had to be spectacularly unusual.
Note: Great quote
“I think I’ve been in the top five percent of my age cohort all my life in understanding the power of incentives, and all my life I’ve underestimated it. And never a year passes but I get some surprise that pushes my limit a little farther.”
The CDO was, in effect, a credit laundering service for the residents of Lower Middle Class America. For Wall Street it was a machine that turned lead into gold.