
Something of Value
The Memo by Howard Marks
00:00
The Protecting to Day's Winners Have Never Been Stronger
Businesses are both more vulnerable and more dominant in to day's world. This gives real value to intangibles such as exceptional management, engineering talent and strategic positioning with customers. On the negative side, it creates immense temptation for investors to overvalue undeserving companies. The mots protecting to day's winners have never been stronger.
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