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Interview with Howard Marks, on the book discussed in Chris Cuffe's article this week.
On any given day, whether the stockmarket rises or falls is a coin toss, but stay invested for 10 years and the odds are excellent. It's at times of market selloffs that opportunities present for long-term investors.
Howard Marks writes a regular letter to his clients, but he realised he had not addressed the selling decision. We hear about people who claim they picked a market top but when do they reinvest to enjoy the upside?
Borrowers can relax for a while longer as Reserve Bank Governor Philip Lowe signals he will wait for firm evidence of inflation and wage rises before raising cash rates, but the market is way ahead of him.