The Digest #125
The First iPhone, Orange Julius, From L.A. to Boise, The Scientific Method, Lies About the World, Ian Cassel on Microcaps ...
How Should Investors Assess Worst Case Scenarios in Japan?
"At Oaktree, we believe that because there’s so much we can’t know about the future, we should invest only where our analysis tells us the worst case is tolerable." -- Howard Marks, memo to clients (pdf) dated March 11, 2003 ...