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The Zurich Axioms: The rules of risk and reward used by generations of Swiss bankers by Max Gunther

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The First Major Axiom: On Risk

Worry is not a sickness but a sign of health. If you are not worried, you are not risking enough.

Two young women friends graduated from college many years ago and decided to seek their fortunes together. They went to Wall Street and worked at a succession of jobs. Eventually both ended as employees of E. F. Hutton, one of the bigger stock brokerages. That was how they met Gerald M. Loeb.

Loeb, who died a few years ago, was one of the most respected investment counselors on the Street. This bald, genial man was a veteran of the hellish bear markets of the 1930s and the astounding bull markets that followed the Second World War. He kept his cool through all of it. He was born poor but died rich. His book ...

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