The Memo by Howard Marks cover image

The Rewind: Us and Them

The Memo by Howard Marks

00:00

The Market's Efficient and Now Here's the Characteristics of Us?

Bearish nature. Defensive, guarded, obsessed with risk, what might go wrong? Worried about losers. Value investors insistent on buying cheap. Sceptics trees don't grow to the sky. Frightened by excessive appreciation. Enjoy averaging down. Eager to take profits. Comfortable with cash,. aware that much is beyond their control. Highly conscious of the role played by luck. Devoted to watching companies, the markets. Engrossed in watching the market. The market's efficient and now here are the characteristics of us? I don't know. Oak tree believes that the sources from which such information has been obtained are reliable. It cannot guarantee the accuracy or completeness

Transcript
Play full episode

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!
App store bannerPlay store banner
Get the app