Taking The Temperature
The Memo by Howard Marks
How to Be Successful at Contrarianism
The secret to making money lies in contrarianism, not conformity. When emotional investors take an extreme view of an asset's future, the easy money is usually made by doing the opposite. Be on the lookout for illogical propositions, such as stocks have fallen so far that no one will be interested in them. Take note of the swings and capitalize whenever possible.
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