Howard Marks Trims the Fat: Top 5 Biggest Stock Reductions

Johnny HopkinsHoward Marks1 Comment

Each week, we unpack the latest high-conviction trades from legendary investors — revealing what they’re doubling down on, cutting loose, or quietly walking away from. In the most recent quarter, Howard Marks significantly reduced several positions in his public equity portfolio. These reductions may reflect a reassessment of risk, valuation, … Read More

Howard Marks: The Essence of Investing Is Risk for Profit

Johnny HopkinsHoward Marks

During his recent panel discussion at the 2025 Qatar Economic Forum on Bloomberg Live, Howard Marks said: “The essence of investing is appropriately bearing risk for profit.” In this conversation he laid bare how risk, uncertainty, and judgment shape the core of long-term investing. Marks emphasized the importance of understanding … Read More

Howard Marks: FOMO vs. Fundamentals

Johnny HopkinsHoward MarksLeave a Comment

Howard Marks has this gift for cutting through the noise. At Global Alts Miami 2025, he didn’t come with a market prediction or some flashy hot take on tech. In fact, when asked about Nvidia’s big 16% drop thanks to a new Chinese chatbot, he shrugged and said, “I don’t … Read More

Howard Marks on Tariffs, Market Risks & Opportunities

Johnny HopkinsHoward MarksLeave a Comment

Howard Marks has navigated market cycles for decades, but his recent Bloomberg interview revealed even he finds today’s environment extraordinary. “This is the biggest change in the environment that I’ve seen probably in my career,” he says. The rapid shift from globalization to trade wars and tariffs has created unprecedented … Read More

Howard Marks: How to Overcome Fear and Greed in Investing

Johnny HopkinsHow to Overcome Fear and Greed in Investing, Howard MarksLeave a Comment

As someone who’s been investing for many years, I’ve realised that investing is a psychological battlefield, where the hardest decisions are rarely about numbers and valuations—they’re about emotions. Howard Marks captures this dilemma perfectly in The Most Important Thing, where he reflects on the tech bubble and the 2008 financial … Read More

Uncomfortably Idiosyncratic: Howard Marks on Smart Investing

Johnny HopkinsHoward Marks, Uncomfortably Idiosyncratic InvestingLeave a Comment

In the latest episode of Behind the Memo, legendary investor Howard Marks shared his wisdom on navigating market cycles, particularly during speculative bubbles. His insights serve as a crucial reminder for investors: true success comes from independent thinking and resisting the herd mentality. One of Marks’ most striking points is … Read More

Howard Marks: Why Risk Is Perverse

Johnny HopkinsHoward Marks, Risk ManagementLeave a Comment

Risk is often misunderstood, not because it is complicated, but because it defies intuition. As Howard Marks explains in his discussion on the character of risk, “risk is counterintuitive” and “risk is perverse.” The way we perceive risk can often be the exact opposite of reality, leading investors, policymakers, and … Read More