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The Most Important Thing Illuminated: Uncommon Sense for the Thoughtful Investor (Columbia Business School Publishing), by Howard Marks

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Investment expectations must be reasonable. Anything else will get you into trouble, usually through the acceptance of greater risk than is perceived.
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The Most Important Thing Illuminated: Uncommon Sense for the Thoughtful Investor (Columbia Business School Publishing)
The Most Important Thing Illuminated: Uncommon Sense for the Thoughtful Investor (Columbia Business School Publishing)
by Howard Marks
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