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“•Scepticism and pessimism aren’t synonymous. Scepticism calls for pessimism when optimism is excessive. But it also calls for optimism when pessimism is excessive.”

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