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The race doesn't always go to the swift or the strong - but that's the way to bet.
- Grantland Rice
... you should invest more when the tickets in the bowl are in your favor. You should invest less when they are against your favor and what determines the mix of the tickets in the bowl is largely where we stand in the cycle.
- Howard Marks Oaktree
Howard Marks is one of the great investors of our time, and he is constantly sharing his thoughts in his famous memos. In a recent