
Something of Value
The Memo by Howard Marks
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The Economics of Winners Have Never Been Easier
Technology firms, or technologically aided businesses can grow to be much more valuable than we previously could have imagined. Enovation and technical adoption are happening at a much more rapid pace than ever before. It has never been more acceptable for public companies to lose money in the pursuit of a large prize down the road. This makes differentiating between winners and losers difficult without great, inciteful effort to peel back the onion.
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