Mark and Seth

September 26, 2016

Looong market review from Mark Yusko with lots of quotes by Seth Klarman…

Quote then download:

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“Sometimes buying early on the way down looks like being wrong, but it isn’t. You must buy on the way down. There is far more volume on the way down than on the way back up, and far less competition among buyers. It is almost always better to be too early than too late, but you must be prepared for price markdowns on what you buy.”

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