The most beautiful summary of the last 2 years of equity market activity by Howard Marks https://t.co/5Ma9Vcavwe

I like to look at the data, in order to assess where it looks where we might be going. Then I look at the performance of the market, to see where investors think we are going. I then determine if I think there may be an opportunity in all of this. As with a stock, investors all should try to understand what is priced into any investment. That is my

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