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From reflections on the volatility of 2007-08, to introducing new terms like "Big Dumb Money," and thoughts on building mental frameworks for investing, David reacts to his past essays with fresh insights for today's markets. I know 2007 wasn't great for investors. The first is, I didn't even remember 2007 almost zeroed out.
RITHOLTZ: So were you — in the early days, it was mutualfunds it was SMAs, what were you guys doing? That new name of the company became Franklin Templeton. So it was Franklin, along with mutualfund pioneer Sir John Templeton. If you’re a privatecompany, you don’t have any of those pressures.
At one point in time, Jack Bogle, founder of, of Vanguard was chairman of their mutualfunds. Just really a fascinating history from, from a privatecompany to a public company back to a, a partnership. 00:07:33 [Speaker Changed] So when I, my first fund that I ran when I was at Montgomery was a mutualfund.
No pension fund wants to invest in privatecompanies that abuse immigrant children. I used to invest in top global hedge funds back in the day and I trusted nobody. Schwarzman to come to Montreal, I'd personally ask him to donate $250 million to McGill University to fund the Charles Taylor Center for the Humanities.
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