
2020 in Review
The Memo by Howard Marks
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Investing in the Pandemic - What Is the Best Option?
We have strong markets at the beginning of what may prove to be a long economic recovery. The fact that we already see full asset prices so early in the recovery is a source of risk. But on the other hand, the fact that the economy is likely to grow for several years is very encouraging. Among the positives i believe us, political uncertainty has declined somewhat truncating the extreme tails of the distribution of possible events.
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