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Ann: Change in substantial holding, page-14

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    I know what you mean but at the end of the day, a 22% loss on a $50,000 investment hurts but it’s still just $11,000 (for example). Once you’re handling millions of dollars of client funds, double-digit percentage losses are pretty unbelievable. I saw an ex-Goldman Sachs Sydney PM recently wrote on Twitter that 3-5% down was their max threshold, beyond that you were in danger of being tapped on the shoulder.
 
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