Lance

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Howard  Marks
“The key turning point in my investment management career came when I concluded that because the notion of market efficiency has relevance, I should limit my efforts to relatively inefficient markets where hard work and skill would pay off best.”
Howard Marks, The Most Important Thing Illuminated: Uncommon Sense for the Thoughtful Investor

Howard  Marks
“An accurate estimate of intrinsic value is the essential foundation for steady, unemotional and potentially profitable investing.”
Howard Marks, The Most Important Thing Illuminated: Uncommon Sense for the Thoughtful Investor

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