
The Rewind: On The Couch
The Memo by Howard Marks
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Is the Fed Raising Interest Rates a Good Idea?
Next week, the federal reserve will raise interest rates. Anything else would be the biggest shock of a year in which markets and monetary authorities have had serious misgivings. There is something wrong if an event that has been widely anticipated for years can be thought capable of significantly impacting the market. People's expectations should be incorporated into the prices they assign to assets.
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