The Rewind: It Is What It Is
The Memo by Howard Marks
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The Six Tenets of Portfolio Management
An investor has to expect change, albeit doesn't know exactly what change to ex and thus has to build a portfolio that can succeed in a variety of environments. "No one person can change the environment," he says. We have as one of the six tenets of our investment philosophy that our actions are not guided by mackerel forecasts" He adds: 'We don't invite economists in to speak'
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