Do You Know What Is Contrarianism?

Howard Kurtz: One of the six tenets of Oaktree's investment philosophy is that we're not market timers. He says if it's cheap today, but it'll be cheaper in six months, so we'll wait. Kurtz: You can't make a living and you may not even live if all you do is do the opposite of what everybody else does. "All of active management is about taking advantage of other people's mistakes"