Baupost's 2014 Letter To Investors: A Tale Of Two HalvesRupert Hargreaves
“Credit expansion is the government’s foremost tool in their struggle against the market economy. In their hands it is the magic wand designed to conjure away the scarcity of capital goods, to lower the rate of interest or to abolish it altogether, to finance lavish government spending, to expropriate the capitalists, to contrive everlasting booms, and to make everybody prosperous.” -- Ludwig von Mises, 1940 (German)/1949 (English)
Continuing ValueWalk’s coverage of Seth Klarman’s 2014 year . . .
This content is exclusively for paying members. Sign up here
If you are subscribed and having an account error please clear cache and cookies if that does not work email firstname.lastname@example.org or click chat