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" Unless you stay focused on innovation, you can be disintermediated. "
Ruth Porat
Stay Focused
You
Innovation
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" If you don't have ample liquidity, and it's not durable, in times of stress, as you're looking for liquidity, you're forced to sell assets at declining prices, which then eats into your capital position, so it becomes this very, very negative cycle. There's no question that liquidity is sacrosanct. "
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