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Howard  Marks

“However, there are two concepts we can hold to with confidence: •   Rule number one: most things will prove to be cyclical. •   Rule number two: some of the greatest opportunities for gain and loss come when other people forget rule number one.”

Howard Marks, The Most Important Thing Illuminated: Uncommon Sense for the Thoughtful Investor
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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 by Howard Marks
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