Howard Marks: Why holding onto stocks is so hard

If our recent Outlook Series told us anything, it’s that 2022 will be a year of unknowns. As a group, our fund managers were split between bullish or bearish with one expert, Chad Padowitz, choosing bearish for the US market, and bullish for Europe, Japan and parts of Asia. 

This is a good springboard into the latest memo from Howard Marks of Oaktree Capital, which tackles the timing challenge in a “buy low, sell high” strategy.

As Marks points out, “buy low, sell high” is a misleading adage that bastardises the investment process, thanks in no small part to the luxury of hindsight.

 

Read the full article on the Livewire website here.