In this brand new video clip from the Manual of Ideas, Howard Marks makes the important point that investors need to do the following:
a) Have an approach
b) Hold it strongly
c) Accept that, no matter what, there will be times where your approach doesn’t work
d) Work within your own skill set and personality, not someone else’s
Easy to say, tough to do in real life. Especially when there are clients’ expectations to manage.
Howard Marks: Have an Approach and Hold it Strongly. Macro, Quant, Commodities. All have good and bad periods. http://t.co/RdRpjsjMXQ
First principles. http://t.co/OoUxV6C8gT
Howard Marks: Have an Approach and Hold it Strongly by @ReformedBroker http://t.co/uqN3nlwprx
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