“One of my favorite sayings is ‘Never forget the six foot tall man who drowned crossing the stream that was five feet deep on average. We can’t live by the averages. We can’t say, well, I’m happy to survive on average. We gotta survive on the bad days. You gotta survive. And if you’re a decision maker, you have to survive long enough for the correctness of your decision to become evidence. And you can’t count on it happening right away. Overpriced is not the same thing as going down tomorrow.” —Howard Marks, Authors at Google, March 27th, 2015
Authors at Google: Howard Marks, The Most Important Thing Illuminated
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Disclosure: I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company or individual mentioned in this article. I have no positions in any stocks mentioned.