I Beg To Differ

Howard Marks’s latest memo argues that investors seeking superior
performance must have the courage to depart from the pack, even
though doing so means accepting the risk of being wrong. Thinking
differently and better than others is key to outperformance, he
explains, because in investing, it’s not enough to be right. You
have to be more right than most. This means being able to tell
when the investment crowd is focused on all the wrong things.


The memo is read by LJ Ganser. You can read the memo here
(https://cnt.oaktreecapital.com/docs/default-source/memos/i-beg-to-differ.pdf?sfvrsn=7d814866_9)