Opinión

La conversión

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La conversión
En los mercados, obtener rentabilidad requiere una importante labor de análisis y asumir volatilidad.

En los mercados, obtener rentabilidad requiere una importante labor de análisis y asumir riesgos.

Resumen:

Contaba Marguerite Yourcenar –la autora de las célebres Memorias de Adriano– que una vez encontró, en una carta de Flaubert, esta frase inolvidable: “Los Dioses no estaban ya, y Cristo no estaba todavía, y de Cicerón a Marco Aurelio hubo un momento único en la historia en que el hombre estuvo solo”.

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","iv":"5bd30d6fd2cd2f839906b3c70cce6827","s":"2fb03c9525efa344"}