Notes from Calibrating Memo of Howard Marks

“What I would to is figure out how much you’ll want to have invested by the time the bottom is reached”
“All great investments begin in discomfort. One thing we know is that there’s great discomfort today”
“Oaktree explicitly rejects the notion of waiting for the bottom; we buy when we can access value cheap.”
“The investor’s goal should be to make a large number of good buys, not just a few perfect ones.”