Safety, Investing and Investing Safely

I recently read a letter written to clients of Oaktree Capital Management (http://www.oaktreecap.com) by the firm's Chairman, Howard Marks. Howard's been around a while, and he offers some excellent insight. Howard discussed a number of relevant and important topics, but I particularly liked the following line:

"Investment safety doesn't come from doing things safe, but from doing things safely."

Risk aversion leads too many people to shy away from investing [safely] simply because they believe it's unsafe. More people should consider their own investment policy in the context of Howard's idea above.