The Memo by Howard Marks cover image

Behind the Memo: The Indispensability of Risk with Howard Marks, Bruce Karsh, and Maurice Ashley

The Memo by Howard Marks

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Embracing Risks and Accepting Losses in Decision Making

This chapter emphasizes the significance of accepting losses and prioritizing decision quality over solely focusing on achieving a perfect track record. Using the example of Roger Federer's 54% point-winning rate, it stresses the importance of making informed choices and not fixating on controlling outcomes.

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