Download The Most Important Thing Illuminated: Uncommon Sense for the Thoughtful Investor (Columbia Business School Publishing) PDF EPUB
Author: Howard Marks
Pages: 248
Size: 1.216,19 Kb
Publication Date: February 5,2013
Category: Planning & Forecasting
Howard Marks’s THE MOST CRUCIAL Point distilled the trading insight of his celebrated customer memos right into a single quantity and, for the very first time, produced his time-tested philosophy open to general readers. In this edition, Marks’s wisdom is normally joined by the feedback, insights, and counterpoints of four famous investors and expense educators: Christopher C. Davis (Davis Money), Joel Greenblatt (Gotham Capital), Paul Johnson (Nicusa Capital), and Seth A. Greenwald, known as “a guru to Wall structure Street’s gurus” by the NY Instances , speaks on value investing, efficiency, and the economics of details.
These professionals lend insight into such ideas as “second-level considering,” the price/value relationship, individual opportunism, and protective investing. Marks also provides his own annotations, growing on his book’s original designs and issues. A fresh chapter addresses the need for reasonable targets, and a foreword by Bruce C. Klarman (Baupost Group). After four years spent ascending to the very best of the investment administration profession, he’s today searched for by the world’s leading worth investors, and his customer memos brim with insightful commentary and a time-examined, fundamental philosophy.
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Howard Marks, the chairman and cofounder of Oaktree Capital Administration, is famous for his insightful assessments of marketplace chance and risk. Frankly and truthfully assessing his personal decisions–and occasional missteps–he provides useful lessons for important thinking, risk evaluation, and investment technique.
Informed by an eternity of experience and research, THE MOST CRUCIAL Thing clarifies the keys to effective expense and the pitfalls that may destroy capital or ruin a profession. Encouraging investors to end up being “contrarian,” Marks wisely judges marketplace cycles and achieves returns through intense yet measured actions. Brilliantly applying insight to today’s volatile marketplaces, Marks offers a quantity that’s part memoir, component creed, with several wide takeaways.
“That is that rarity, a good book. Right now for the very first time, all visitors can reap the benefits of Marks’s wisdom, concentrated right into a single quantity that speaks to both amateur and seasoned trader. Making use of passages from his memos to illustrate his tips, Marks teaches by example, detailing the advancement of an purchase philosophy that completely acknowledges the complexities of trading and the perils of the economic world. Which element may be the most essential? Effective investing requires thoughtful focus on many separate elements, and each of Marks’s topics proves to end up being the most important issue.
Marks expounds on such principles as “second-level considering,” the price/value relationship, individual opportunism, and protective investing.“–Warren Buffett