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  4. Charlie Munger
  5. In the LBO field there is a buried covariance with...

In the LBO field there is a buried "covariance" with marketable equities, toward disaster in generally bad business conditions, and competition is now extremely intense.

Charlie Munger
Competition, Fields, Intense
In the LBO field there is a buried covariance with marketable equities, toward disaster in generally bad business conditions, and competition is now extremely intense.