Howard Marks & Andrew Marks: Something of Value
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Balance Confidence and Caution in Investing
Successful investing requires a blend of confidence and caution. Investors must believe in their choices, even when faced with uncertainties, and be prepared to support those investments in tough times. However, overconfidence can lead to throwing good money after bad decisions. Concentrating on a few promising investments can enhance returns, but diversification is essential to safeguard against unexpected events. The unpredictable nature of investing cannot simply be calculated or determined by algorithms, making the field both complex and intriguing.
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