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clock Created with Sketch. 12/07/24
15:46
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Originally posted by timbowls
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I actually just finished a really good book along these lines called "The most important thing" by Howard Marks and he articulated risk management really well in that and got me thinking a bit differently about it. He basically said that if you are managing money conservatively then your goal should be to try and capture most of the gain in a bull market (accepting you won't fully be able to keep up with it) and then massively outperform in a bear market because you are holding stocks that are significantly more solid financially than average.
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I think there’ll always be a place for large, diversified, low cost, liquid LICs, of which there are less than a handful in the Australian market.
(20min delay)