As freelancers, we often take macroeconomic factors as a given. However, the legendary investor Howard Marks suggests in his newest memo Sea Change that we may be going through a profound economic change — only a third one in his 53-year investment career:
“We’re witnessing a complete reversal of the conditions … which prevailed in 2021 and late 2020, throughout the 2009-2019 period, and for much of the last 40 years.”
The memo is also available on Spotify as a podcast.
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