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I also think my characterization of her book as "elementary" was somewhat misplaced and a misnomer. The concepts in the book are very, very important. No doubt. I've just read them before in several other places in a piecemeal fashion (in that Federal Reserve pamphlet, in studying for the Series 65, in other books discussing fixed income, in economics classes), that I guess a lot of it wasn't new. It's not unimportant, though, and that wasn't what I meant to articulate. On the contrary.
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