One of the best free resources for all investors are Howard Marks’ memos. Marks is the Co-Chairman of Oaktree Capital, which currently manages a portfolio valued at approximately $6.7 Billion. Since 1990 Marks has written 100+ memos which are full of valuable investing insights. One of our personal favorites here … Read More
Howard Marks – “A Hugely Profitable Investment That Doesn’t Begin With Discomfort Is Usually An Oxymoron..”
One of our favorite investing books here at The Acquirer’s Multiple is – The Most Important Thing: Uncommon Sense for the Thoughtful Investor, by Howard Marks. It’s a must read for all investors. One of our favorite pieces in the book discusses the importance of being contrarian in your investing approach … Read More
Marks on Taleb And The Self Inflicted Anxiety That Investors Create For Themselves
One of the best books ever written on investing is – Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets, by Nassim Taleb. Howard Marks recommended the book in this interview with 5 Good Questions, saying: “I like the book Fooled by Randomness by Nassim Nicholas Taleb. … Read More
Howard Marks – Most Great Investors Stick To An Approach Through Thick And Thin
I’ve just been reading the latest Graham & Doddsville newsletter which features Howard Marks. the Co-Chairman of Oaktree Capital. It’s a great interview with Mark’s in which he discusses his investing strategy, investor psychology, investing timeframes and how great investors stick to their approach through thick and thin. Here’s an … Read More
Howard Marks Interview – Nobody Knows What Will Happen Next – Finanz und Wirtschaft
Here’s a great in-depth interview with Howard Marks at Finanz und Wirtschaft. Marks talks about the current market environment, investor complacency, the lack of historical parallels, and says, “The people you want to follow in this world are the ones that encourage optimism at low valuation levels; those who say … Read More
Howard Marks Latest Memo: Yet Again?
Howard Marks has recently released his latest memo titled – Yet Again? In this memo Marks reflects on the response he received to his previous memo titled – There They Go Again…Again. Marks wrote the following about the response he received to his last memo: “There They Go Again . … Read More
Howard Marks – Eleven Ways To Avoid Pitfalls That Will Crush Your Performance
One of our favorite Superinvestors here at The Acquirer’s Multiple is Howard Marks. In his book, The Most Important Thing, Marks provides eleven lessons for avoiding pitfalls that will crush your portfolio’s performance. Here’s an excerpt from the book: The essential first step in avoiding pitfalls consists of being on the … Read More
Howard Marks – Passive Investors Surrender The Possibility Of Outperforming
Howard Marks recently released his latest memo titled, There They Go Again…Again. As usual it’s full of a number of great investing insights. One which struck a chord with me was his thoughts on the debate over active versus passive investing and the huge shift towards passive. Marks warns passive … Read More
Howard Marks – A Defensive Mindset Provides Above-Average Results With Below-Average Volatility
One of my favorite investing books is The Most Important Thing: Uncommon Sense for the Thoughtful Investor, by Howard Marks. The book includes passages from Marks’ memos to illustrate his investment philosophy. In Chapter 17 Marks provides a very simple example of the importance of developing a defensive mindset as an … Read More
Howard Marks – The Poor Man’s Guide To Market Assessment
One of my favorite investing books is The Most Important Thing: Uncommon Sense for the Thoughtful Investor, by Howard Marks. The book includes passages from Marks’ memos to illustrate his investment philosophy. In Chapter 15 Marks provides a very simple example of how to identify the current state of any market … Read More
Howard Marks – The Performance of Stocks With P/E Ratios In The Twenties Is Likely To Be Single Digit
Here’s a great piece by Howard Marks from his 2000 memo where he asks the bulls one question: What’s been the average performance of stocks bought at p/e ratios in the twenties? I don’t think the return has been in double digits. I’m not even sure it’s been positive! Here’s … Read More
Howard Marks Says You Can Invest In The Worst Companies In America And Have A Good Experience
As a value investor it’s important that you always assess the downside risk of your investments, prior to purchase. Famed investors Buffett and Klarman are always speaking about the ‘margin of safety’ espoused by the grandfather of value investing, Benjamin Graham. One of the best articles on assessing the risk … Read More
Howard Marks – Anticipate – And Avoid – Pitfalls That Others Will Rue After The Fact
With the stock market reaching all time highs, maybe it’s a good time to revisit Howard Marks’ memo of 2005 in which he discusses market trends being taken to excess – and the painful consequences that become clear in hindsight. Here’s an except from that memo: “The farther backward you … Read More
Howard Marks Investor Series with Bruce Karsh
The Howard Marks Investor Series at The Wharton School brings high-profile investors to campus to share their real-world, practical investment perspectives. In this installment, Howard Marks speaks with Bruce Karsh. Both are co-founders of Oaktree Capital Management. Here’s the interview:
Howard Marks: 7 Principles For Identifying Investment Opportunites
Howard Marks is a modern day Superinvestor like Seth Klarman and Mohnish Pabrai. His memos provide investors with a great deal of insight on investing strategy. One of our favorites memos was an Addendum he added to his third quarter client letter in 1994 in which he provides seven principles … Read More
Howard Marks And Joel Greenblatt: “I Think You And I Would Agree That People Are Nuts.” Time Favors The Rational.
Earlier this year, Howard Marks and Joel Greenblatt came face to face at the inaugural Forbes and Shook Research Top Financial Advisor Summit in Las Vegas where it became apparent that their worldview is nearly identical. When speaking about the current market conditions the pair said, “Most people, including most people … Read More
Howard Marks – The Truth About Investing
Oaktree Chairman Howard Marks did a great presentation earlier this month for the CFA Society in India called – The Truth About Investing. While the presentation was fantastic, the audio quality is not 100%, nevertheless it’s a must watch for all investors. Most interesting was the awesome slideshow that Marks used … Read More
Howard Marks – Warns Investors to Invest When Optimism Is Low, Not High
One of our favorite investors at The Acquirer’s Multiple – Stock Screener is Howard Marks. Howard Marks is Chairman and Co-Founder of Oaktree Capital Management, the world’s biggest distressed-debt investor. He’s known in the investment community for his “Oaktree memos” to clients which detail investment strategies and insight into the … Read More
Howard Marks – Don’t Abandon Time-Honored Disciplines, Here’s Why
One of our favorite investors at The Acquirer’s Multiple – Stock Screener is Howard Marks. Howard Marks is Chairman and Co-Founder of Oaktree Capital Management, the world’s biggest distressed-debt investor. He’s known in the investment community for his “Oaktree memos” to clients which detail investment strategies and insight into the … Read More
Howard Marks – Investors Develop Amnesia In The Sharemarket – Here’s Why
One of our favorite investors at The Acquirer’s Multiple – Stock Screener is Howard Marks. Howard Marks is Chairman and Co-Founder of Oaktree Capital Management, the world’s biggest distressed-debt investor. He’s known in the investment community for his “Oaktree memos” to clients which detail investment strategies and insight into the … Read More