110. Book Club: Howard Marks – The Most Important Thing

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First episode of the month means it is time for the Equity Mates book club. This month we are discussing Howard Mark’s classic investing book ‘The Most Important Thing’.

Howard Marks is the co-founder of Oaktree Capital Management, a $120 billion fund based in America. Howard is known for his memo’s – a must read for any investor. In this book Howard uses his old memo’s to illustrate some of the most important things for an investor of any level.

In this episode you will learn:

  • What Howard considers the most important consideration for any investor
  • Understanding price and knowing what you should pay
  • Managing risk, and the importance of understanding the difference between probability and outcome
  • How to properly size your positions
  • Why market cycles always happen and how investors should take advantage of them
  • The importance of asset allocation

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