Memos from Howard Marks
The Memo by Howard Marks

The Rewind - You Can't Predict. You Can Prepare.

Howard looks back on this memo, originally published on November 20, 2001. The title was inspired by a TV commercial tagline from that time: “It's almost a Yogi Berra type statement that makes no apparent sense on first reading, but then it turns out to be quite wise.”

Also available at:

View All