The Rewind: You Can’t Predict. You Can Prepare.
The Memo by Howard Marks
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The Market Cycle
Gains from productivity are proving to be cyclical, and the cycle shorter than had been expected. The market has a mind of its own, writes John Sutter. Stocks are cheapest when everything looks grim, he says. And eventually giddiness sets in as people become willing to extrapolate it.
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