The Memo by Howard Marks cover image

The Rewind: On The Couch

The Memo by Howard Marks

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How to Deal With Non-Objective Quirks

The difficulty of understanding events, their significance and their potential ramifications comes in good part from the kinks in investors psyches. Investors tend to emphasize just the positives or the negatives much more often than they take a balanced, objective approach. Inefficiencies in everyday language mispricing stem from biaces against one asset or in favor of another,. legal, cultural, informational and especially behavior and emotional.

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