underscored

@underscored

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Most people think diversification is about owning many things. It's actually about owning things that are wrong at different times and for different reasons. The goal isn't to avoid being wrong — it's to ensure that being wrong never kills you.

— Howard Marks, Mastering the Market Cycle (2018)
3w ago

Diversification is a protection against ignorance. It makes very little sense for those who know what they're doing.

4mo ago

Underscored — save the words that stop you in your tracks.

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