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TIP497: Lessons from Billionaire Howard Marks
We Study Billionaires - The Investor’s Podcast Network
The Key Elements of Defensive Investing
In investing, a conscious balance must be struck between striving for return and limiting risk. Marx says that the critical element of defensive investing is what Buffett would call the margin of safety or margin for error. Concentration adds to your returns when you're right, but it's really harmful when you're not right.
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