If there's a "kiss of death" in the investment world, it's the widespread belief that something can't miss. When people have complete confidence in something, the prices they'll pay for it and the amounts of money they'll try to jam into it will sound an absolute death knell for its profitability.
—Howard Marks, Memo to: Oaktree Clients Vol 1, Re: A Case in Point, page 15 (June 6, 2005)














