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.”
Other investors' emotions become advantage or threat depending on your emotional discipline.
“Other investors’ emotional swings can be a threat… or a competitive advantage. What determines which one it is, is your ability to keep a cool head.”