Here’s a great short interview with Howard Marks speaking on CNBC in which he discusses the dilemma that ever investor faces in a falling market. When do you pull the trigger when you see stocks that look cheap? Here’s an excerpt from the interview: Q. What do you think is … Read More
Howard Marks: Latest Memo – Nobody Knows II, Coronavirus And It’s Impact On Markets
Howard Marks recently released his latest Memo titled – Nobody Knows II, in which he discusses his view on the coronavirus and its impact on markets saying: Over the last few weeks, I’ve been asked repeatedly for my view of the coronavirus and its implications for the markets. I’ve had … Read More
Howard Marks: Latest Activist Positions
As a new weekly feature here at The Acquirer’s Multiple, we’re going to take a look at the latest activist positions from some of our favorite superinvestors based on their latest 13D/13G filings. Activist investors like Warren Buffett, Carl Icahn, David Einhorn, Bill Ackman, Paul Singer, Howard Marks. John Paulson, … Read More
Howard Marks: Can You Strap Yourself In For The Long Term Regardless Of What Happens Tomorrow
During his recent interview on CNBC Howard Marks was asked his thoughts on investor psychology as the market briefly tumbled 1011 points due to coronavirus fears. Marks provided some great insights into the importance of thinking like an investor in periods of uncertainty. Here’s an excerpt from the interview: Scott … Read More
Howard Marks: One Of The Most Essential Ingredients In Investing Is The Ability To Look Stupid
In this interview with Shane Parrish on The Knowledge Project Podcast, Howard Marks provides some great insights into the importance of looking stupid in order to become a successful investor. Here’s an excerpt from the interview: Some people don’t get contrarian thinking. And one of the things I say is … Read More
Howard Marks: Latest Memo: You Bet!
We’ve just been reading Howard Marks’ latest memo titled – You Bet! in which he discusses an observation he made when he was seventeen after reading the book Decisions Under Uncertainty: Drilling Decisions by Oil and Gas Operators by C. Jackson Grayson, Jr. His observation was that you can’t tell … Read More
Howard Marks: Q3 2019 Top 10 Holdings
One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of time … Read More
Howard Marks: Q2 2019 Top 10 Holdings
One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of time … Read More
Joel Greenblatt: It Will Always Be Possible To Beat The Market, Here’s Why
Here’s an excerpt from a great interview between Joel Greenblatt and Howard Marks in which Greenblatt illustrates why it will always be possible to beat the market, saying: This is what I tell my students and most of my students are around 27ish or something like that. I tell them … Read More
Howard Marks: The Great Investors Are Unemotional People
Here’s a great excerpt from an interview that Howard Marks recently did with themarket.ch. During the interview Marks talks about the psychological aspects that make successful investors great saying, “Most of the great investors I know are unemotional people”. Here’s an excerpt from the interview: What about psychological aspects? The higher … Read More
Howard Marks: Top 10 Holdings Q1 2019
One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of time … Read More
Howard Marks: The Greatest Advantage In This Business Is Having Ten-Year Money
Here’s a great excerpt from Howard Marks’ recent interview on Real Vision. During the interview Marks explains how the structure of the Oaktree Capital Funds protects investors from themselves when the ‘herd’ wants to withdraw funds saying: “First of all we have the confidence of our investors. Secondly, the money … Read More
Howard Marks: Top 10 Holdings
One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of time … Read More
Howard Marks: How Can Investors Become Effective Contrarians
We’ve just been re-reading Howard Mark’s 2009 Memo – Touchstones. In the memo Marks provides some great insights into how investors can become more effective contrarians saying: Resisting – and thereby achieving success as a contrarian – isn’t easy. Things combine to make it difficult, including natural herd tendencies and … Read More
Howard Marks: Avoiding All Losses Can Render Success Unachievable Almost As Readily As Can The Occurrence Of Too Many Losses
In his 2014 memo – Dare To Be Great, Howard Marks says successful investing includes dealing with some losses saying: “To succeed at any activity involving the pursuit of gain, we have to be able to withstand the possibility of loss. A goal of avoiding all losses can render success … Read More
Howard Marks: Going To Cash Under Almost All Circumstances Is Stupid!
Here’s a great interview with Howard Marks at Goldman Sachs in which Marks discusses why going to cash under almost all circumstances is stupid, and why market timing is impossible. Here’s an excerpt from the interview: Interviewer: Now that Oaktree is now $120 billion, and I understand not all pools … Read More
Howard Marks: Markets Have Flipped From Being All Good to All Bad
Here’s a great video with Howard Marks at Bloomberg. During the interview Marks says: “I think, as it often does, the market has flipped from being all good to all bad. Prior to October the 4th it was ignoring some possible problem sites and now it’s obsessing about them. That’s … Read More
Howard Marks: The Pendulum of Investor Psychology
We’ve just been reading Howard Marks’ new book – Mastering The Market Cycle. In it there’s a great chapter titled – The Pendulum of Investor Psychology which discusses the impact of investor psychology on markets. Marks writes: One of the most time-honored market adages says that “markets fluctuate between greed … Read More
Howard Marks: Investors Should ‘Calibrate’ Their Portfolios To Include The Current Market Cycle
We’ve just been listening to a great podcast with Meb Faber interviewing Howard Marks. Marks is discussing his new book – Mastering The Market Cycle, and he provides a great illustration of how investors can practically ‘calibrate’ their portfolios to include the current market cycle. Howard: You mentioned a memo … Read More
Howard Marks: Latest Memo – The Seven Worst Words In The World
Howard Marks has just released his latest memo which focuses on today’s economic environment compared to 2008 saying: “Thus the idea for this memo came from the seven worst words in the investment world: “too much money chasing too few deals.” Here’s an excerpt from that memo: I have a … Read More