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  • Clever derivatives broke dozens of companies. It killed them. Bankrupt. We don't need these kinds of innovation in finance. It's OK to be boring in finance. What we want is innovation in widgets.

    Charlie Munger
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    "Charlie Munger's Thoughts on the World: Part 1". Charlie Munger's speech at the Wesco Financial Annual Meeting "A Morning With Charlie" in Los Angeles, www.fool.com. July 2, 2011.
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Clever derivatives broke dozens of companies. It killed them. Bankrupt. We don't need these kinds of innovation in finance. It's OK to be boring in finance. What we want is innovation in widgets. - Charlie Munger
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