I Beg To Differ
The Memo by Howard Marks
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Will the Market Be as Good as Expected?
Selling out the p 500 has returned about ten and a half % a year on average over that century plus. Most investors would be better off ignoring short term considerations if they want to enjoy the benefits of long term compounding. Since 19 20, there have been 17 recessions, as well as one great depression, a world war and several smaller wars,. multiple periods of worry about global cataclysm and now a pandemic.
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