
The Rewind: You Can’t Predict. You Can Prepare.
The Memo by Howard Marks
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The Great Bull Market
When the teck bubble was roaring ahead in late 19 99, no one could think of any development that might be capable of bringing it to an end. But somehow the stocks did stop going up, and then they started going down. I don't think anyone can say just what it was that caused the tek bubble. Maybe a few smart people concluded that everything wouldn't get better forever. The best explanation is that the prices just collapsed their own weight.
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