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The Investor's Podcast (We Study Billionaires)  - The Investor’s Podcast Network

TIP 073 : Billionaire Howard Marks - The Most Important Thing (Investing Podcast)

The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.63.6K Ratings

🗓️ 15 February 2016

⏱️ 51 minutes

🧾️ Download transcript

Summary

IN THIS EPISODE, YOU’LL LEARN: How Preston’s short position of junk bonds is performing. How any asset is attractive at the right price, and how no asset is attractive at the wrong price. Why value investors should be attentive to credit cycles. How all financial markets are swinging like a pendulum and how to profit from it. Why value investing is like tennis for beginners. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members. The Investor’s Podcast page executive summary of the book, The Most Important Thing. Howard Mark’s book, The Most Important Thing – Read reviews of this book. Benjamin Graham’s book, Security Analysis – Read reviews of this book. Preston and Stig’s educational stock investing videos: BuffettsBooks.com. NEW TO THE SHOW? Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts.  SPONSORS Support our free podcast by supporting our sponsors: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Plus500⁠ ⁠Netsuite⁠ ⁠Shopify⁠ ⁠Vanta⁠ HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! 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Transcript

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0:00.0

We study billionaires and this is episode 73 of the Investors Podcast.

0:06.0

Broadcasting from Bel Air, Maryland. This is the Investors Podcast.

0:14.0

They'll read the books and summarize the lessons. They'll test the waters and tell you what it's called.

0:19.0

They'll give you actionable investing strategies.

0:23.0

Your host Preston Pish and Sting Broderson.

0:29.0

Hey, how's everybody doing out there? This is Preston Pish and I'm your host for the Investors Podcast.

0:34.0

And as usual, I'm a company by my co-host Sting Broderson, out in Denmark.

0:38.0

And today we've got a book and this one was written by a billionaire and that is Howard Marx.

0:44.0

And for anybody in the investing community, particularly the value investing community,

0:48.0

Howard Marx is a very famous name and somebody that a lot of people follow quite closely.

0:54.0

And the name of his book, he's written one book and the name of the book is the most important thing.

0:59.0

And it's uncommon sense for the thoughtful investor and Warren Buffett's endorses.

1:04.0

I see his really short endorsement on the front of it. It says, this is that rarity, a useful book.

1:10.0

So he has a bunch of people that have endorsed this Seth Klarman, John Bogle, Joel Greenblatt.

1:17.0

All the big names have endorsed this book. And for the most part, I thought it was a good book.

1:22.0

I wouldn't say that this is hands down the best investing book that a person should read.

1:27.0

But I think that it's something that's very important and it gives very sound advice.

1:32.0

And I think it's a very good refresher for maybe people that have read the intelligent investor

1:36.0

and some of the books that are a little bit more complicated.

1:39.0

I think that this is a great book to just listen to on like your audible device or I wouldn't necessarily say you have to actually get the hard copy of it.

1:47.0

A lot of investing books you really need to get the hard copy because there's math in it or there's charts or equations and things like that.

1:55.0

This wasn't one of those kind of books. This book was more one that you could just put on and listen to.

...

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