
Coming Into Focus
The Memo by Howard Marks
The Big Story of Two Thousand 20
We've never seen an economic environment like the one brought on by the lockdown many industries, plus other entities and institutions with zero activity and no revenues. Widespread layoff in sioux as seems to be beginning, and business slows again? Mightn't we see a rise into faults and bankruptcies and a softening of investor psychology and thus asset prices? The size and success of the fed treasury rescue effort is one of the big stories of two thousand 20.
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