Episode notes
IN THIS EPISODE, YOU'LL LEARN:
- 04:31 - How Marks was shaped by his first experience of a stock market bubble and crash.
- 12:04 - How conversations with his son have led him to modify his investment principles.
- 18:20 - Why he came to believe that buying cheap assets is the key to successful investing.
- 26:01 - What is his view of the current investment environment?
- 36:37 - Why Marks regards emotion as the “greatest enemy” of superior investing.
- 48:40 - How to invest successfully in a period of high inflation.
- 54:48 - Why Marks now believes that his “knee-jerk skepticism” about Bitcoin was wrong.
- 58:43 - Why Marks is bullish on China at a time when most foreign investors are running scared.
- 01:04:03 - Why moral values like integrity, candor, and fairness are essential to a good life.
- 01:14:00 - How to succeed by playing to your own strengths and living life on your own terms.
*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
- Howard Marks’ Memos.
- Howard Marks’ “Something of Value” Memo.
- Howard Marks’ book, The Most Important Thing Illuminated.
- Howard Marks’ book, Mastering the Market Cycle.
- Preston and Stig discuss The Most Important Thing book on We Study Billionaires Episode 073.
- Trey interviews Howard Marks on We Study Billionaires Episode 073.
- William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book.
- William Green interviews Ray Dalio on We Study Billionaires Episode 410.
- William Green’s Twitter.
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