The Rewind: It Is What It Is
The Memo by Howard Marks
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The Difference Between Inferences and Predictions
Some investors were taught that the method of investing is, first you decide what the economy is going to do. The willingness to make a prediction implies a belief that you know what's going to happen. And statements like that are rarely right. We must accept that our world is full of ambiguity and uncertainty - we must invest with that in mind.
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