This is Howard Marks.
That one is the fact that as technology and information play a bigger role in business and our lives, labor becomes less necessary
Howard Marks • Howard Marks Memo - The Winds of Change
A few quotes...
“Establishing and maintaining an unconventional investment profile requires acceptance of uncomfortably idiosyncratic portfolios which frequently appear downright imprudent in the eyes of conventional wisdom.”
“Memory – and the resulting prudence – always comes out the lo... See more
Howard Marks: Luck, Risk and Avoiding Losers [The Knowledge ...
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"For some reason, because of the way investor psychology works, people switch from only seeing the good to seeing only the bad.” -Marks
he most important adage regarding leverage reminds us to “never forget the six-foot-tall person who drowned crossing the stream that was five feet deep on average.
The Impact of Debt
In all aspects of our lives, we base our decisions on what we think probably will happen. And, in turn, we base that to a great extent on what usually happened in the past
The Impact of Debt
Best Quotes from Each Chapter of “The Most Important Thing” by Howard Marks
medium.com
“I like to say, “Experience is what you got when you didn’t get what you wanted.”
Howard Marks Quotes (Author of The Warren Buffett Way)
To sum up, many workers experienced a “timeout” during the pandemic – not working, working parttime, working from home, and/or certainly not traveling on business. For many, this may have occasioned a reset, giving them an opportunity to conclude, “You know, my career isn’t everything;