Lessons from Howard Marks latest memo — “There they go again….again”

Akshay M.
Akshay M.
Jul 28, 2017 · 6 min read

If you are a serious investor who has been at it for some time, the name Howard Marks certainly needs no introduction.

The following are my notes on his latest memo. I started writing them primarily for my benefit, but then I thought I might as well post them here.

I think it’s better to turn cautious too soon (and thus perhaps underperform for a while) rather than too late, after the downslide has begun, making it hard to trim risk, achieve exits and cut losses.

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Akshay M.

Written by

Akshay M.

An avid reader. An enthusiastic student. A reluctant academician. PhD in Space Physics. A rational optimist, most of the time anyway. positiontrader@ymail.com

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