The most important thing in Investing, by Howard Marks

Howard Marks is the co-founder of Oaktree Capital Management and author of "The Most important thing" and "Mastering the market's cycles". In this Q&A with Milken, he discusses some key concepts from his book: The Most Important thing.

00:00 Failing to understand the lessons of history
01:32 The Nifty Fifty
02:48 Risk and Safety vs Asset Quality
03:58 Black Monday, 1987
05:00 There is no such thing as a sure thing
05:34 The Tech Bubble
08:26 Risk Aversion keeps the market honest and sane
10:50 Risk: understand, recognise, control it
14:00 Knowing what you do not know
22:05 We don't rely on predictions
23:45 Appreciating the role of luck

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► Recommended Books:

The Most Important Thing, by Howard Marks. https://amzn.to/42KZVng
Mastering the Market Cycles, by Howard Marks. https://amzn.to/3Na5g1L
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NOTES:
The interview has been edited for time, reach and engagement.
Full credits:    / @milkeninstitute  

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