This paradox exists because most investors think quality, as opposed to price, is the determinant of whether something's risky. But high quality asse… - Howard Marks

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This paradox exists because most investors think quality, as opposed to price, is the determinant of whether something's risky. But high quality assets can be risky, and low quality assets can be safe. It's just a matter of the price paid for them...Elevated popular opinion, then, isn't just the source of low return potential, but also of high risk.