Howard Marks：Dare to Be Great II, Excerpt 12

Fear of looking bad can be particularly debilitating to an investor, client or manager. This is because of how hard it is to consistently make correct investment decisions. Some of this comes from my last memo, on the role of luck. First, it’s hard to consistently make decisions that correctly factor in all of the relevant facts and considerations (i.e., it’s hard to be right).

Source： https://www.oaktreecapital.com/docs/default-source/memos/2014-04-08-dare-to-be-great-ii.pdf
Locator：Memo, excerpt 12 · Verified：2026-10-19 · Verification：Short excerpt

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