Oaktree Capital Founder Reveals: ‘Waiting for the Bottom’ is a Costly Investment Fallacy

Howard Marks, co-founder of Oaktree Capital, recently shared his investment wisdom at Wharton. He argues that waiting for a market bottom to buy is futile, as timing the exact bottom is impossible. True investing success depends on assessing asset quality and buying at an attractive price, not perfect timing. He notes that truly great 'compounding machines' are rare, and a common mistake is selling too early.

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