Bubble.com memo published 25 years ago was 'right and right fast,' establishing the pattern that being too far ahead of your time is indistinguishable from being wrong, but in that case timing was correct.

factualpending

Speaker

Howard Marks

Evidence Quote

exactly 25 years ago today I published the first memo that brought a response from readers after having written for almost 10 years without receiving any the memo was called bubble.com

Source

On Bubble WatchOaktree Capital
Created: 8/11/2026, 7:51:42 AM

My Notes

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