“…there are (a) facts, (b) informed extrapolations from analogies to other viruses and (c) opinion or speculation.
…if you’re experiencing something that has never been seen before, you simply can’t say you know how it’ll turn out.
…There’s no algorithm for deciding whether to favor life for a few (or for thousands) versus economic improvement for millions.”
-Howard Marks, “Knowledge of the Future.” Oaktree Capital. April 14, 2020.
Interesting throughout.
cafebedouin.org 