The MOST Important Thing | BIGGEST Investing Lessons From Billionaire Howard Marks (TIP497)

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Clay Finck studies the work of Howard Marks and shares his biggest takeaways from reading his book, The Most Important Thing. Howard Marks is the co-founder of Oaktree Capital which has $159 billion in assets under management.

▶️ RELATED EPISODES:

IN THIS EPISODE, YOU’LL LEARN:
00:00:00 - Intro
00:01:47 - The Most Important Thing
00:03:18 - Second-Level Thinking
00:07:40 - Efficient Market Hypothesis
00:10:59 - Investing Risk
00:14:35 - Defining Risk
00:20:45 - Market Cycles
00:23:32 - Investing Mistakes
00:29:03 - How to Invest with Market Cycles
00:31:24 - Buying Bargains
00:35:10 - Investing in a Low Rate Environment
00:35:32 - Patient Opportunism
00:39:16 - Investing Defensively
00:45:00 - Why Macro Forecasts Are So Difficult

📖 BOOKS MENTIONED:

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ABOUT OUR SHOW 🎙 
On We Study Billionaires, we interview and study famous financial billionaires including Warren Buffett, Bill Gates, and Ray Dalio. We teach you what we learn and how you can apply their investment strategies in the stock market.

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❗ DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting.
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WeStudyBillionaires
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Love that phrase, "the greatest enemy of knowledge is not ignorance, but the illusion of knowledge, " will remember that one. Thanks for posting!

djramz
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Greatest enemy of knowledge is not ignorance but the appearance of knowledge!
- Second level thinking
- Important to assess how much one would make from an investment that plays out v/s how much downside you have when it doesn't - Soros
- Invest Defensively : keep up with benchmarks during bull mkts but lose much less in downdrafts

rocking
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What a coincidence: today, Howard Marks released a new memo

romantopmoller
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Ahhh !!! Men. I love that George Soros Quote. Always gives me chills

bensonmuturi
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What happened to the David Gardner interview?

michaelcorbi
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Pay attention to the masses and just do the opposite!

PeterParker-wjcr