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The way to build long-term returns is through preservation of capital and home runs.
— Stanley Druckenmiller
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Here’s the thing about baseball-it’s not the individual sport I thought it was. Turns out I was wrong about that. Yeah, the batter is a lone man against the world. He stands in the batter’s box like a soldier and it’s up to him-and him alone-what happens next. But here’s the thing I didn’t understand until I was forced to, until recently: In order to hit a home run… Someone else has to pitch the ball.
— Barry Lyga
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