Howard Marks: There’s A New World Order

In his latest memo titled – The Winds of Change, Howard Marks discusses the changing environment for investing and the new world order. Here’s an excerpt from the memo:

Q3 2021 hedge fund letters, conferences and more

As I’ve written before, the world I remember of 50, 60 and 70 years ago was a pretty static place. Things didn’t seem to change very much or very fast. The homes, cars, reading matter, business technology and general environment of 1970 weren’t very different from those of 1950. We were entertained by broadcast TV and radio, drove gasoline-powered cars dependent on carburetors, did most calculations on paper, composed documents on typewriters...