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Par Guy Wagner, chief economist de la Banque de Luxembourg
"The notion that central banks are in control of events is a myth. It's the other way around." (Dylan Grice, Socit Gnrale)
"You simply cannot create investment opportunities when they're not there. When prices are high, it's inescapable that prospective returns are low. The motto of those who reach for return seems to be: 'If you can't get the return you need from safe investments, pursue it via risky investments.' It takes a lot of hard work or a lot of luck to turn something bought at a too-high price into a successful investment. Patient opportunism - waiting for bargains - is often your best strategy." (Howard Marks, Oaktree Capital...
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