RWH002: Investing Wisely in an Uncertain World w/ Howard Marks

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: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.Find Pros & Fair Pricing for Any Home Project for Free with Angi.Get in early on medical technology, breakthroughs in ag tech and food production, solutions in the multi-billion dollar robotic industry, and so much more with a FREE OurCrowd account. Open yours today.Find people with the right experience and invite them to apply to your job. Try ZipRecruiter for FREE today.Every 28 seconds an entrepreneur makes their first sale on Shopify. Access powerful tools to help you find customers, drive sales, and manage your day-to-day. Start a FREE fourteen-day trial right now!Invest in the $1.7 trillion art market with Use promocode WSB to skip the waitlist.Confidently take control of your online world without worrying about viruses, phishing attacks, ransomware, hacking attempts, and other cybercrimes with Avast One.Get access to some of the most sought-after real estate in the U.S. with Crowdstreet.Canada’s #1 employee benefits plan for small businesses! The Chambers Plan evolves with the way you work and live while keeping the rates stable. Opt for the simple, stable, and smart choice for your business.Take advantage of a free mortgage review and learn about custom loans that can save you big money with American Financing.Be part of the solution by investing in companies that are actively engaged in integrating ESG practices with Desjardins.Live local in Melbourne and enjoy $0 Stamp Duty*!Reclaim your health and arm your immune system with convenient, daily nutrition. Athletic Greens is going to give you a FREE 1 year supply of immune-supporting Vitamin D AND 5 FREE travel packs with your first purchase.Get the most from your bitcoin while holding your own keys with Unchained Capital. Begin the concierge onboarding process on their site. At the checkout, get $50 off with the promo code FUNDAMENTALS.The interval fund, a breakthrough innovation. Only at Mackenzie.See the all-new 2022 Lexus NX and discover everything it was designed to do for you. Welcome to the next level.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!See Privacy Policy at and California Privacy Notice at

by We Study Billionaires - The Investor’s Podcast Network