Stories, sayings , Opinions and rants Part 2
From Howard Marks on Risk
Risk means more can happen than will happen. It's ok to have an opinion, just not ok to risk clients' money on that opinion (do the work).
Regarding accepting risk firstly you must be aware of the risks in an investment, secondly, you must be able to analyse those risks, thirdly, you must be able to diversify those risks and finally, you must be handsomely rewarded for taking those risks.
Data and information is no substitute for thinking --B Baruch
Many commentators state that the market is more efficient now than ever, and I strongly refute that. What I can see is a mountain of passive money, a wall of momentum money extrapolating into the never-never and social media promoting waves of fear and greed. You can't find an opportunity in all that?
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