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COMMENTS

  1. Full nationalization means present fairness shareholders are completely wiped out and bondholders could or could not obtain a “haircut,” which means a write-down on the value of the debt owed to them.

  2. The most successful investors may possibly follow the day-to-day calamity of the markets, but nonetheless stick to the approach they devised in calmer times and let patience, not panic, decide the long-term success of their investments.

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