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Memos from Howard Marks: Bull Market Rhymes
Howard Marks discusses how investor behavior in the bull markets of 2020 and 2021 became disconnected to the economic reality of the future.
05.26.2022
In Howard Marks’ latest memo, he discusses the role played by financial innovations like SPACs and cryptocurrencies and why he believes psychology, not fundamentals, primarily drives investment cycles—and likely always will.
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