Thought of the Day

| January 15, 2020
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With the continued move higher across most asset classes, overconfidence is a major risk for investors. When investing seems easy, please be reminded it is not. It can continue uninterrupted for some time, but reversion to the mean is a staple tenet in investing.

“Risk and uncertainty aren’t the same as loss, but they create the potential for loss when things go wrong. Some of the biggest losses occur when overconfidence regarding predictive ability causes investors to underestimate the range of possibilities, the difficulty of predicting which one will materialize, and the consequences of a surprise.”

~Howard Marks from The Most Important Thing


Stay Tuned, Disciplined & Patient! {TJM}

The Investor & Character Equation (ICE) | S + R = O


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