“In principle, junk bonds are basically useful, but they are used excessively and irrationally, notably in takeovers.”

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Originally said in English.

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About Maurice Allais

Maurice Allais is quoted here; further biographical details are not publicly available.

More from Maurice Allais (16 quotes) →
"In principle, junk bonds are basically useful, but they are used exce…" — Maurice Allais | Daily Quotes