The Memo by Howard Marks cover image

The Rewind: You Can’t Predict. You Can Prepare.

The Memo by Howard Marks

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Corporate Life Cycle - The Biggest Mistake I've Made in Investing

Most companies are born in an entra penurial mode, starting with dreams and limited capital. Success comes to some they enjoy profitability, growth and expanded resources. The lucky few become world class organizations but eventually, most are confronted with challenges relating to hubrus or ossification. Investors indulge in the willing suspension of disbelief, which i always bring to the movies, but check at the door when i come to work.

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