The Memo by Howard Marks cover image

The Rewind: Dare to Be Great II

The Memo by Howard Marks

CHAPTER

The Importance of Unconventional Behavior in Investing

Active management strategies demand uninstitutional behavior from institutions. Successful investing requires the ability to look wrong for a while and survive some mistakes. Investors operating under harsh scrutiny and unstable working conditions can have a harder time doing this than others. Not everyone can answer these questions in the affirmative, but those who believe they can should take a chance on being great.

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