o In bubbles, infatuation with market momentum takes over f… - Howard Marks

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o In bubbles, infatuation with market momentum takes over from any notion of value and fair price, and greed (plus the pain of standing by as others make seemingly easy money) neutralises any prudence that might otherwise hold sway.

Howard Marks

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About Howard Marks

Howard Stanley Marks (born April 23, 1946) is an American investor and writer. He is the co-founder and co-chairman of Oaktree Capital Management, the largest investor in distressed securities worldwide.

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Alternative Names: Howard Stanley Marks • Howard S. Marks

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Warren Buffett Morgan Housel Benjamin Graham John Kenneth Galbraith Nassim Nicholas Taleb

Additional quotes by Howard Marks

If one is approached with a deal predicated on cycles having ceased to occur, remember that invariably that’s a losing bet.

The cautious seldom err or write great poetry.

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

o In bubbles, infatuation with market momentum takes over from any notion of value and fair price, and greed (plus the pain of standing by as others … - Howard Marks

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