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The Rewind: bubble.com

The Memo by Howard Marks

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Is There Optimism Built Into the Prices of Text Stocks?

Growth stocks, in particular, the archtypical growth stocks, are not much affected by the economic difficulties this year. Some of their business models have been high lighted as being particularly appropriate. The other thing is that you would have to say that there's optimism built into the prices of those stocks. It's really a optimism that causes bubbles.

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