What is ' the accountants sold out'?
Munger surmised that the whole thing is a Mad Hatter’s Tea Party and that the accountants sold out.
Munger is criticizing the use of derivatives. What does 'the accountants sold out' mean?
to sell out: to betray (an associate, one's country, a cause, etc.); turn traitor: He committed suicide rather than sell out to the enemy.
https://www.dictionary.com/browse/sell--out
November 2, 2018
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