How to deal with unknown risks in life and investing

In the world of investing, risk is an ever-present companion. We spend countless hours analyzing data, studying market trends and creating careful strategies to mitigate known risks. Yet, as legendary investor and Oaktree Capital co-founder Howard Marks once famously stated –

Risk is what’s left after you think you’ve thought of everything.

This sentiment is a stark reminder that in the unpredictable world of investing, there are always unknown and unexpected risks lurking in the shadows.

Today, I’ll share two compelling stories told by Marks and another prominent investor, Joel Greenblatt, to illuminate the importance of recognizing the existence of these hidden dangers and surprises, especially when you’re sure there are no such surprises.

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