Marks says he's made only five to seven market calls in fifty years, when prices reached absurd extremes.
“And when prices are at absurd extremes, the case, the logic for a market call is very strong, and the probability of being right is very high.”
Marks advises his son that quality of output is the one controllable factor amid randomness.
“One thing that's within your control is the quality of your output. Amen. And so you should have a simple goal which is to put out a product which is the highest quality you can.”