Howard Marks: Oaktree Capital, Investment philosophy, Risk and Randomness
In Good Company with Nicolai Tangen
Contrarian Investing in Finance
Being contrarian in finance is crucial as it involves betting against the consensus which may offer compelling opportunities with high payoffs. The consensus is already factored into asset prices, so going against it can lead to better returns. However, it is important to conduct a thorough analysis beyond just going against the crowd, understanding why the consensus may be wrong and what might expose its errors. Money is often made by betting on assets that are undervalued due to the negative sentiment surrounding them.
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