“That’s the key lesson. Investing is not about buying good things, but about buying things well – and if you don’t understand the difference, you shouldn’t be an investor…. There is nothing so good that it can’t become overpriced and dangerous. Conversely, there’s almost nothing so bad that it can’t be a good buy at a low enough price.” —Howard Marks
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Links - 02/10/2025
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“That’s the key lesson. Investing is not about buying good things, but about buying things well – and if you don’t understand the difference, you shouldn’t be an investor…. There is nothing so good that it can’t become overpriced and dangerous. Conversely, there’s almost nothing so bad that it can’t be a good buy at a low enough price.” —Howard Marks