Howard Marks Top 10 Holdings (Q2 2021)

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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: Coping With A Falling Price

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In his book The Most Important Thing, Howard Marks discusses what happens in an investor’s psychology after buying a stock and it starts to drop in price. Here’s an excerpt from the book: Let’s say you figure out that something’s worth 80 and have a chance to buy it for … Read More

Howard Marks: How To Be A Smart Contrarian

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In his recent interview on The Wall Street Lab Podcast, Howard Marks provided a great example of how to be a smart contrarian. Here’s an excerpt from the interview: Marks: Most people associate investing, high quality investing with scepticism. That is to say you don’t necessarily believe everything you’re told … Read More

Joel Greenblatt: It’s Not Only What’s In Front Of You Today But What Might Be In Front Of You Six Months From Now

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In his recent interview with Howard Marks on Real Vision, Joel Greenblatt discussed the impact of interest rates on asset prices, whether this time is different, how accounting has not kept up-to-date with today’s business models, and the importance of maintaining a margin of safety. Here’s an excerpt from the … Read More