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Money tends to itself reproduce. Preferred shares give their holders priority in the payment ofdividends, namely, profits distributed to shareholders, rather than They remind us how nice they are to their depositors (a free railcard for students!
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I chaired a couple of strategic planning committees, and in 1990, when John Weinberg retired as head of the firm, his successors, Steve Friedman and Bob Rubin, picked me to run investment banking with Bob Hurst and Mike Overlock. Ten minutes later, Cox, clearing his throat, got back on the line.
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