The Memo by Howard Marks cover image

The Rewind: It Is What It Is

The Memo by Howard Marks

CHAPTER

Taking the Temperature of the Market

The future is not knowable. The events of the future don't exist to day, how can we say what they are or will be? Emotion contributes some of the randomness in the markets. And you have to understand that even if you know the probability distribution perfectly, you still don't know what's going to happen.

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