Chapter
The Importance of Market Assessment
57:09 - 1:09:29 (12:19)
Howard Marks discusses the current state of the economic recovery and bull market and emphasizes the importance of market assessment and paying attention to the price you pay for investments. He suggests using a checklist to take the temperature of the market and identifying indicators such as interest level at cocktail parties and fund selling patterns.
Clips
Warren Buffett advises that the most important question an investor should ask about each investment is how much optimism is factored into its price, and discusses how investors' attitudes towards risk influence market cycles.
57:09 - 58:49 (01:40)
Summary
Warren Buffett advises that the most important question an investor should ask about each investment is how much optimism is factored into its price, and discusses how investors' attitudes towards risk influence market cycles.
ChapterThe Importance of Market Assessment
Episode#338: Howard Marks — How to Invest with Clear Thinking
PodcastThe Tim Ferriss Show
Successful investing does not depend on what you buy, but on the price you pay for it, according to value investor Howard Marks.
58:49 - 1:01:35 (02:46)
Summary
Successful investing does not depend on what you buy, but on the price you pay for it, according to value investor Howard Marks. The key is to look for low price-to-value opportunities, which often means choosing something that is not necessarily popular or trendy.
ChapterThe Importance of Market Assessment
Episode#338: Howard Marks — How to Invest with Clear Thinking
PodcastThe Tim Ferriss Show
In this episode, the guest discusses the importance of taking the temperature of the market and presents a checklist of simple questions to ask for market assessment, largely tongue-in-cheek.
1:01:35 - 1:05:36 (04:00)
Summary
In this episode, the guest discusses the importance of taking the temperature of the market and presents a checklist of simple questions to ask for market assessment, largely tongue-in-cheek.
ChapterThe Importance of Market Assessment
Episode#338: Howard Marks — How to Invest with Clear Thinking
PodcastThe Tim Ferriss Show
Howard Marks, founder of Oaktree Capital Management, discusses his insights on the three stages of bull and bear markets, and how they affect investing.
1:05:36 - 1:09:29 (03:52)
Summary
Howard Marks, founder of Oaktree Capital Management, discusses his insights on the three stages of bull and bear markets, and how they affect investing. As the longest economic recovery in recent history has been ongoing for ten years, Marks warns that the likelihood of it continuing is declining, and that when everyone believes things will only get better forever, it's likely that so much optimism is in the stock price that a profit is unlikely.