Two stories every investor should know. The first was told to Howard Marks by his father about a gambler who bet everything on a race with only one horse. How could he lose? But halfway around the track, the horse jumped over the fence and ran away.
The other story is about André-François Raffray as told by Bart Holland in his book "What Are the Chances?"..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.