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Comment of the Day

January 20 2020

Commentary by Eoin Treacy

You Bet!

Thanks to a subscriber for this memo from Howard Marks. 

Eoin Treacy's view

This is a thoughtful exposition of the framework around which the likelihood of profits from accelerating trends can be considered. I have always thought of my trades as percentages of win versus loss potential in considering whether to participate or not. Howard Marks does a much better job of explaining the rationale. My game, however, is mah-jong although I am nowhere near as competent as Mrs. Treacy. 

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