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JRI IVZ Fireside Chat - March 26, page-372

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    They used to talk about Kerry Packer betting $20m on a hand of poker. My argument was that is a microscopic fraction of his wealth but if I had $100 in the bank and put $50 on a horse I’m betting 50% of my wealth. I’m therefore a larger gambler than Packer was. Point being that size of holding is relative.
 
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