Howard Marks
2 things Howard uses or recommends, from 2 episodes.
Howard's top picks
What Howard uses or recommends most, ranked by how often and how strongly. Paid ads are left out.
Recommends it · talked about in 2 episodes
"One is A Short History of Financial Euphoria by John Kenneth Galbraith. This was very influential in my thinking and it teaches you about the mental weakness that gives rise to booms and busts. Taking an objective view of cycles is a big part of what I do, so that was very influential, and I was lucky to get to meet Galbraith."
Recommends it · 1 episode
"The other book would be Fooled by Randomness by Nassim Nicholas Taleb. I'm a great believer that a lot in life is random. Taleb basically says in the short run anything can happen because of randomness, and this determines our attitude toward risk, our attitude toward portfolio construction, our attitude toward published records. I would recommend it strongly."
What Howard warns against
Things Howard says to avoid or be careful with. Other experts don't always agree.
"JP Morgan published a chart showing the relationship between the S&P 500 at purchase and the return over the next 10 years. It was a negative correlation which means the higher the PE ratio you pay the lower the return you should expect."
All 2 of Howard's picks
- A Short History of Financial Euphoria Recommends it 2 episodes "One is A Short History of Financial Euphoria by John Kenneth Galbraith. This was very influential in my thinking and it teaches you about the mental weakness that gives rise to booms and busts. Taking an objective view of cycles is a big part of what I do, so that was very influential, and I was lucky to get to meet Galbraith." Only Howard
- Fooled by Randomness Recommends it "The other book would be Fooled by Randomness by Nassim Nicholas Taleb. I'm a great believer that a lot in life is random. Taleb basically says in the short run anything can happen because of randomness, and this determines our attitude toward risk, our attitude toward portfolio construction, our attitude toward published records. I would recommend it strongly." +1 other