One of life's simple pleasures is when the master Howard Marks issues a new memo, and a new one landed in the inbox this morning.
And today's subject is: Thinking in bets.
You can read the memo at Oaktree here:
Brilliantly insightful, as always, and very topical.
See here and here where we recently discussed how you can thinking of your investing as a series of repeated similar bets, to maximise your geometric returns, and therefore your wealth.
