The Memo by Howard Marks cover image

Coming Into Focus

The Memo by Howard Marks

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The Hallmark of All Bubbles

The market fell in half in the early 19 seventies, and the nifty 50 declined much more. Why? Because investors hadn't been sufficiently price conscious. A lot of the strength and potential of to day's teck leaders derives from their dominant market shares and market power. This same element creates one of their greatest vulnerabilities, potential exposure to anti trust action. Is what berkeleyis reported on october seventh, yesterday, us.

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