"The correctness of a decision can't be judged from the outcome. Nevertheless, that's how people assess them. A good decision is one that's optimal at the time it's made, when the future is by definition unknown. (…) The fact that something's improbable doesn't mean it won't happen. And the fact that something happened doesn't mean it wasn't improbable. Every once in a while, someone makes a risky bet on an improbable or uncertain outcome and ends up looking like a genius. But we should recognize that it happened because of luck and boldness, not skill."
- Howard Marks
SNAPSHOT
Description: Full time investor.
Trading frequency: Infrequent
- Howard Marks