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"The themes of cycles are really the only things you have to understand in order to understand everything I took away from 50 years in the markets"

Translations

“The future is inherently unforecastable, the nature of investing is that the decisions you...”

Howard S. Marks

“You can't predict, you can prepare ”

“Risk means more things can happen than will happen ”

“Successful investing requires a careful balancing of objective analysis and subjective con...”

FEATURED QUOTES

“We are stubborn on vision. We are flexible on details.”

“The universe buries strange jewels deep within us all, and then stands back to see if we c...”

“If you're not flexible, you'll pound your head against the wall and you won't see a differ...”

“Certain things in life simply have to be experienced and never explained. Love is such a thing.”

“You have within you right now, everything you need to deal with whatever the world can throw at you”

“Don’t walk in front of me… I may not follow Don’t walk behind me… I may not lead ...”

“If you can't explain it to a six year old, you don't understand it yourself.”

“An ounce of action is worth a ton of theory”

“Most decisions should probably be made with somewhere around 70% of the information you wi...”

“There is only one quality worse than hardness of heart and that is softness of head.”