One of the best lines I've heard recently was from Lee Partridge, who consults on the San Diego County Employees Retirement Association portfolio. During a Managed Funds Associationrnconference speech, he told the audience he was convinced the world was run by bond traders because they are the ones who understand the risk, and they are the ones who cause all the problems. His presentation was on the heels of a speech given by former New Jersey Gov. Jon Corzine, who also was a U.S. senator and, yes, was chairman and senior partner of Goldman Sachs from 1994-1999, rising through the ranks after starting as an interest rate trader.
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