Billionaire Howard Marks: The Truth About Investing

A Q&A and presentation with billionaire investor, Howard Marks. In this presentation Howard discusses how he invests and what lessons he has learnt throughout his career. Howard covers topics ranging from risk to investment philosophy and much more. 📚 Books by Howard Marks and his favourite books are located at the bottom of the description❗

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Video Segments:
0:00 Introduction
2:43 Second level thinking
3:50 You cannot predict, but you can protect
5:45 Start of Q&A
7:38 Does the price you pay matter?
12:30 Start of presentation
12:46 Most investors cannot see the future
16:20 Randomness
17:14 Knowing the Knowable
18:04 Aggressive or defensive
18:59 Buying assets for less than they are worth
23:45 How do I know if no one else does
24:49 Investors framework has shrunk
25:42 Emotion
29:01 Contrarian behaviour
30:45 Efficient market hypothesis
34:12 Reflexivity
35:20 A philosophy that you can stick to in tough times
39:56 Loosing clients
43:17 The ability to preserve
44:10 Risk
49:45 Quant investing
50:58 The skill of a manager

Howard Marks Books 🇺🇸📈 (affiliate link)
The Most Important Thing:

Howard Marks Favourite Books🔥
Winning the Loser’s Game:
A Short History of Financial Euphoria:
Fooled by Randomness:

Interview Date: 2nd March, 2017
Event: CFA Society India
Original Image Source:

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26 thoughts on “Billionaire Howard Marks: The Truth About Investing”

  1. Investors Archive – I know for a fact that a lot of people appreciate the work you are doing so thank you from all of us for the work you are doing

  2. I believe the following is true: 1. Nobody can reliably and consistently predict the future of what's going to happen in the market; 2. Reversion to the mean will always happen; 3. The trends and momentum are parts of the randomness; 4. Everything has the price and the value only works if you pay less; 5. Growth stocks are just at a different dimension of value

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