This is Howard Marks.
Invest Like the Best with Patrick O'Shaughnessy: Howard Marks - Embracing the Psychology of Investing on Apple Podcasts
podcasts.apple.com“One of the biggest mistakes you can make is to think that overpriced and going down tomorrow are synonymous. Markets that are overpriced often keep going.” -Marks
"For some reason, because of the way investor psychology works, people switch from only seeing the good to seeing only the bad.” -Marks
“I believe it is highly possible to improve your long-term results by adjusting your investment position at the extremes of the cycle. Not that often. But at the extremes.” -Marks
Best Quotes from Each Chapter of “The Most Important Thing” by Howard Marks
medium.com
he most important adage regarding leverage reminds us to “never forget the six-foot-tall person who drowned crossing the stream that was five feet deep on average.
The Impact of Debt
it did in the past. And investments made on the assumptions that tomorrow will look like yesterday must be subject to vastly increased scrutiny.
Howard Marks • Howard Marks Memo - The Winds of Change
“Investing is a funny business. It's really easy to be average. Just buy an index fund. It's really hard to be above average.” -Marks
A few quotes...
“Establishing and maintaining an unconventional investment profile requires acceptance of uncomfortably idiosyncratic portfolios which frequently appear downright imprudent in the eyes of conventional wisdom.”
“Memory – and the resulting prudence – always comes out the... See more