Howard Marks Memos - for those with interest

[fenders53]

That was a good piece. I have noticed a lot of investors my age and older are completely resistant to change, and stubbornly refuse to adjust their investment strategies to minimize the risk of our changing world. Pretending like it is still 1990 and will remain so forever. I've even seen friends liquidate their ports when an election doesn't go their way. Flexibility in my investments has served me well.