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Notices
Bridge over ocean
15 December 2010 Research Foundation

Volatility + Leverage = Dynamite

Howard Marks, CFA

Volatility + Leverage = Dynamite View the full chapter (PDF)

The global financial crisis of 2007–2009 is unprecedented in modern times. Nevertheless, it can be better understood by taking a long historical perspective that includes crises and crashes from other times and places. A select group of 16 authors or writing teams with extensive experience in the investment management profession have contributed essays to this extraordinary collection.