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Bonus Episode: Howard Marks on “In Good Company”

The Memo by Howard Marks

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Lessons from Card Games to Investing

The chapter delves into how playing card games and chess can provide valuable lessons for investing, focusing on the importance of risk-taking and probabilistic thinking. It discusses the work of Annie Duke, a former world champion poker player, and emphasizes the need for intelligent risk management in financial markets. The chapter also explores the significance of contrarian investing, personality traits required for success in investing, and advice for young individuals entering the finance industry.

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