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In the economists’ old conception of a market, perfection would arrive when all participants had complete knowledge. However, economists and psychologists have lately realized that ignorance and bias more accurately describe the state of…
In the following years the three Bear Stearns bankers would complete a series of buyouts including Stern Metals (1965), Incom (a division of Rockwood International, 1971), Cobblers Industries (1971), and Boren Clay (1973), as well as… He is considered one of the most successful investors in the world and has a net worth of US$88.9 billion as of December 2019, making him the fourth-wealthiest person in the world.
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