"Most people are afraid to be wrong." - Howard Marks on why nobody gets out in time. The market goes up most years, so the only way to look wrong is to be out of it. But nobody wants to look wrong, so nobody gets out. Until a crisis does it for them, at the bottom. Marks got out in 2006, looked wrong for a year and a half, and had $11 billion ready when 2008 hit.
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