Uncertainty in Markets and Importance of Doubt

In a discussion with Oaktree Co-chairman Howard Marks, the uncertainty in current markets due to various exogenous events like Ukraine, Gaza, and the Fed's actions is highlighted. Marks emphasizes the danger of being overconfident in predicting the future, stating that when people are convinced they know what will happen, it often leads to bubbles and crashes. He suggests that acknowledging uncertainty is healthier as it prevents extreme risks and contributes to more balanced outcomes.