So the world can be divided into places with leverage and places without leverage.
The problem with leverage is that it requires investment in highly liquid instruments so the holder can quickly de-leverage.
Inflation made playing with leverage even more enticing for hedge and equity funds.
So to improve their odds, hedgies substitute patient stock picking with leverage.
"I don't think it has to do with leverage exclusively, " he said.
Society has elevated many people in business to superstar status, but today we realize that some of the superstars just got lucky with leverage.
Does the President think that helps with leverage with the Chinese?
It would be regulated by the SEC and be dependent on its own performance and not a bunch of financial activities with leverage that few can understand, much less put a dollar value on.
And for us to have leverage with the Palestinians, to have leverage with the Arab States and with the international community, the basis for negotiations has to hold out the prospect of success.
In fact a bank with a leverage ratio of infinity run by individuals with god-like knowledge of the true risks of lending would be safer than a bank run by mortals whose leverage ratio is tiny.
The old-school hustlers were left with no leverage at the negotiating table with the owners of capital, while at the same time being at their mercy, instead of at the mercy of Wild West nature.
Since 2004 the SSS letter is up 93% (with no leverage) as verified by Mark Hulbert.
It tracks the same index as MLPI but with 2x leverage juicing its yield to 12.9%.
In this sense, Chinese economic activities and investments provide China with tremendous leverage over these countries.
The BBC's Lucy Williamson in Seoul says Yongbyon has provided the North with successful leverage in the past.
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Private-equity funds, for example, give investors exposure to the same kinds of risks as quoted companies, only with added leverage.
Equity financed mutual funds are, thus, small banks with zero leverage (debt).
On top of that, HTA maintains a conservative balance sheet, with total leverage of only 31% at the end of the third quarter.
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Rather than diversifying into dozens of stocks, the firms funds typically hold a paltry 5-7 companies, with no leverage and no short positions.
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An investor who pays 90 cents on the dollar for debt that is almost certain to be repaid can make mouth-watering returns with minimal leverage.
As a uniquely poisonous cocktail, mixing fears of rising rates with high leverage and silly valuations, the market for such bonds is hard to beat.
Entering negotiations with no leverage is never a good idea.
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At the same time, other Chinese have self-organized online to form purchasing groups with enough leverage to force down the price of, say, the new Toyota Yaris they each want to buy.
They wrongly equated mutual dependence with unilateral leverage.
In terms of capital structure, equity REITs with lower leverage that are less dependent on capital markets for growth or refinancing of capital should be relatively better-positioned to expand balance sheets and weather economic and financial volatility.
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Interest-bearing debt was JPY 1.2 trillion, relatively high financial leverage for a manufacturing company with high operating leverage.
Now, however, Cojuangco is in a perfect position to play white knight to PAL, a man with adequate resources and leverage to deal effectively with creditors, unions and a grateful government.
Back in the late '80s, Drexel Burnham was busy coming to market with a succession of shaky leverage buyout deals with fixed-charge coverage ratios of just one times.
Highly leveraged private equity buyers have left real estate investment trusts in the dust over the past three years, but the REITs are now in a strong cash position, operating with usually no more than 50% leverage and with access to relatively cheap money.
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