TIP497: Lessons from Billionaire Howard Marks
We Study Billionaires - The Investor’s Podcast Network
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Navigating Investment Risk and Psychology
This chapter explores the complexities of risk in investing, emphasizing its subjective nature and the importance of liquidity and skepticism. It discusses the psychological challenges investors face, including emotions like greed and fear, which can lead to irrational decision-making during market cycles. The chapter also highlights the need to recognize these influences and adopt contrarian viewpoints, especially during downturns.
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