The Rewind: Uncertainty
The Memo by Howard Marks · Oaktree Capital Management
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Show Notes
Howard reflects on this memo originally published on May 11, 2020. Writing near the beginning of the Covid-19 crisis, he discusses the power of saying “I don’t know” and the danger of confirmation bias. Drawing on the insights of thinkers from Voltaire to Albert Einstein, Howard explains why he believes having intellectual humility is essential for outstanding investing.
You can read the memo here (https://www.oaktreecapital.com/docs/default-source/memos/uncertainty.pdf).
The memo is read by LJ Ganser.