Last week, in Calibrating, I mentioned having written to an Oaktree colleague that, “These days everyone has the same data regarding the present and the same ignorance regarding the future.” I chose the title of this memo because it’s such an oxymoron: there’s practically no such thing as meaningful knowledge regarding the future investment environment. Thus, this memo will be about some things people think they know but may not." Howard Marks is a Brilliant Thinker - check out his latest memo. https://lnkd.in/esHifW7