Taking The Temperature
The Memo by Howard Marks
The Importance of Investing
Bruce Karst's team plunged in, investing an average of $400 million a week from September 18 to year end. The excesses, mistakes and foolishness of the 2003-2007 upward leg of the cycle were the greatest I've ever witnessed. "The greater long-term risk probably lies in not investing," he says.
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