“Most trends—both bullish and bearish—eventually become overdone, profiting those who recognize them early but penalizing the last to join. That’s the reasoning behind my number one investment adage: ‘What the wise man does in the beginning, the fool does in the end.’ The ability to resist excesses is rare, but it’s an important attribute of the most successful investors.” —Howard Marks
Links - 08/08/2023
Links - 08/08/2023
Links - 08/08/2023
“Most trends—both bullish and bearish—eventually become overdone, profiting those who recognize them early but penalizing the last to join. That’s the reasoning behind my number one investment adage: ‘What the wise man does in the beginning, the fool does in the end.’ The ability to resist excesses is rare, but it’s an important attribute of the most successful investors.” —Howard Marks