Charlie Munger:“The big money is not in the buying or selling, but in the waiting.”Yesterday, Howard Marks showed why during an interview at Wharton:“As I recall, I think Amazon was $90 in ‘99 on the tech bubble. And then when the bubble burst in 2000 or 2001, it was $6.So it went from $90 to $6. It was down 93%. So what if you were smart enough to buy it at $6?Would you have held it at $12? Or would you have said, well, I’ve doubled my money. I’m going to take some off the table. I’m going to t
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