The Rewind: Something of Value
The Memo by Howard Marks
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Howard's Perspective on Value Investing
Andrew and howard are two different schools of thought on value investing. They come from slightly different perspectives, but share some common ground. Andrew: "I strongly adhere to the belief that businesses are worth the discounted value of their long term cash flos" Howard: "i think it was also about the importance of withholding judgment on things without deep knowledge"
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