Anything with Howard Marks is great, but for me the memorable quotes from the panel discussion were by Sheik Saoud (probably because I’ve listened to Howard Marks so many times already and have heard his great quotes already multiple times).
Anyway, Sheik Saoud:
“In public markets I would identify the main risk is index investing.”
“It might sound counter-intuitive, but you’d reduce your risk by increasing your tracking error.”
“Private equity is in trouble.”
Although, in defense of Mr Marks, this summarizes how I think about AI, so, obviously§ the best quote:
“AI knows everything that’s ever happened, and how stock prices reacted to everything that ever happened, so they can emulate the path to success that worked in the past.”
Thanks for sharing the link and your summary, I really enjoyed it!
That’s going to cost you a couple of followers on this forum …
(FWIW I agree with the statement)
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