The truth about investing by Howard Marks

This is by far the most insightful and detailed lecture of Howard Marks. It is packed with timeless wisdom from its two books (The Most Important Thing, and Mastering the Market Cycles) and Memos (2019). ------------------------- ► TIME STAMPS: 0:00 Introduction 0:09 The Most Important Thing 2:55 Predictions 3:41 Macro Forecasts 4:45 Randomness 6:21 How do you prepare for the future, if you don't know it? 7:57 The 3 stages of a Bull Market 11:18 Contrarian Behaviour 17:10 Are Cycles dependable? 19:25 How much optimism is priced in the stock? 21:02 Risk Aversion 27:09 Get the Odds on Your Side 29:27 When are the odds against you? 31:30 What happen next 32:57 How to Invest in a low return world 34:04 Why are Prospective Returns low? 38:23 How can Investment managers add value? 40:49 Investing in a low return world? --- Most of us were never taught how money works. Not at school. Not at home. And not by the financial industry. This is where I think out loud about building financial freedom — through videos, tutorials, and book reviews — test ideas against real experience, and share what actually works. You are not separated from your goals by a number of years, but by a number of decisions. __________________ ► MY WEBSITE: https://www.sweatyourassets.biz ► MY Podcast: https://sweatyourassets.biz/podcast/ ► RECOMMENDED BOOKS: https://sweatyourassets.biz/book-libr... ► JOIN MY MAILING LIST: https://sweatyourassets.biz/newsletter/ ───────────────────────────── Howard Marks Books: The Most Important Thing: https://amzn.to/43QdkgB Mastering the Market Cycles: https://amzn.to/3SiuPnh ► NOTES: The original 2019 interview has been edited in the interest of time, reach and educational purposes. Master Your Finances. Alessandro Baroni