The Memo by Howard Marks cover image

Behind The Memo: The Impact of Debt with Howard Marks and Morgan Housel

The Memo by Howard Marks

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Embrace Strategic Mediocrity for Lasting Success

Investors often claim to be long-term focused, but true commitment requires sacrificing short-term gains for enduring returns. The challenge lies in resisting the temptation to leverage immediate opportunities that could hinder long-term durability. By prioritizing a patient approach to investing, one can achieve extraordinary compounded returns over decades. The concept of 'strategic mediocrity' illustrates this by showing that while an investor may not excel in the short term, consistently maintaining a disciplined outlook can lead to top performances over extended periods.

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