Interview with Howard Marks: Masters in Business (Audio)
Masters in Business
00:00
You Can't Buy When It's Cheap
"Most of the time the crowd is right, it's at those extremes. But only at the extremes are 99 out of 100 selling," he says. Prices cannot be high relative to intrinsic value; you can't lose by buying. "If you buy because it's cheap, it goes down. You buy more. It's still cheap. No, it's cheaper. Okay."
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Transcript
