Behind the Memo: The Indispensability of Risk with Howard Marks, Bruce Karsh, and Maurice Ashley
The Memo by Howard Marks
Risk-Bearing and Sacrifice in Decision-Making
The chapter explores the parallels between taking risks in investments and personal choices, emphasizing the importance of assessing probabilities and expectations. It discusses the significance of embracing uncertainty and being willing to make sacrifices to achieve superior outcomes in decision-making processes.
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