Howard Marks Discusses the Interest-Rates Machine
Masters in Business
00:00
Investing in the Future
I think we do better thinking about the future if we realize that a lot of different possibilities are out there. Elroy Dimson, who retired from the London Business School, said that risk means more things can happen than will happen. And one of the ways to come to that conclusion is by realizing that in the past, there were a lot of possibilities, only one of which transpired.
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