What I Think I Know
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What I Think I Know

“Just trying to do the hardest thing of all – to understand”

There are three words which are among the most important words in our business: I don’t know. And if you don’t know something…you should admit it—to yourself and to everybody around you. And I think personally that it’s very freeing to say ‘I don’t know.’ I think it’s very, almost depressing, to feel that you have to have an opinion on every subject, even the ones where by definition you can’t have superior knowledge

There are three words which are among the most important words in our business: I don’t know. And if you don’t know something…you should admit it—to yourself and to everybody around you. And I think personally that it’s very freeing to say ‘I don’t know.’ I think it’s very, almost depressing, to feel that you have to have an opinion on every subject, even the ones where by definition you can’t have superior knowledge

December 28, 2018 Nate

— Howard Marks


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