I Beg To Differ
The Memo by Howard Marks
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Is There a Recession?
I pay close attention to the questions people ask most often at any given point in time, as they tell me what's on their minds. The questions i'm asked these days overwhelmingly surround the outlook for inflation and interest rates. And yet we can't know much about the short term future, or i should say, we can't dependently know more than the consensus. Most investors can't meaningfully re vamp their portfolios based on such opinions. After all, we're investors, not traders. I think it's the last point that matters most.
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