Quote for the Week
As an investor, you have to deal with two risks: The risk of losing money, and the risk of missing out on opportunities. It’s the job of a good investor to balance the two: you invest, but with caution… I think it’s better to turn cautious too soon rather than too late… It’s precisely when people can’t see what it is that could make things turn down that risk is the highest. It could be an economic slowdown, rising interest rates, the effect of central bank tightening, or geopolitical events. Or it could be something else. It’s always the things we don’t know about that really bite us in the end. — Howard Marks (source)
From the Archives
Last Call
- A Good Time for the Sleeping Point Story – Prime Cuts
- Remembering Moments When I Thought Things Took a Permanent Turn for the Worse – Tker
- Vices, Virtues, and a Little Humor: 30 Quotes from Financial History – M. Higgins
- Innovation and Stock Market Bubbles – Verdad
- How Much Have Social Security Claiming Ages Increased? – CRR
- From Kaffa with Love: How Coffee Conquered the World – Periscope
- The Quiet Collapse of Surveys: Fewer Humans (and More AI Agents) are Answering Surveys – Lauren’s Data
- A Major Newspaper Publishes a Summer Reading List–but the Books Don’t Exist – Honest Broker
- What It’s Like to Be a Professional Card Counter – Slate