"My final words are cut short by this audience’s well-fed drowsiness. I will leave as a question for later discussion: Will hedge funds make our golden years more golden, or will the new concoctions of option engineers, instead of reducing risks by spreading them optimally (in fact, by making possible about 100 to 1 over leveraging), result in microeconomic losses for pension funds and, maybe someday, even threaten the macro system with lethal financial implosions?"
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Academics from the United StatesJews from the United StatesEconomists from the United StatesNobel laureates in EconomicsPeople from Gary
Original Language: English
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Sources
"Is Personal Finance a Science?", in Z. Bodie, D. McLeavey and L.B. Siegel (eds.) The Future of Life-Cycle Saving and Investing (2007)
https://en.wikiquote.org/wiki/Paul_Samuelson
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Paul Samuelson
Paul Anthony Samuelson (May 15, 1915 – December 13, 2009) was an American economist. He was the first American to win the Nobel Prize in Economics.
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