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6min chapter
TIP497: Lessons from Billionaire Howard Marks
We Study Billionaires - The Investor’s Podcast Network
Is Forecasting Unpredictable?
Howard Marks: It's very unlikely people can predict what's going to happen. He adds that clearly economic relationships aren't hardwired. And economies aren't governed by schematic diagrams, which models try to simulate. In the end, Marx has the same view as Warren Buffett that the macro future isn't knowable and should be disregarded when making investment decisions.
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