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

<p><strong>IN THIS EPISODE, YOU'LL LEARN:</strong></p><ul><li>04:31 - How Marks was shaped by his first experience of a stock market bubble and crash.&nbsp;&nbsp;</li><li>12:04 - How conversations with his son have led him to modify his investment principles.</li><li>18:20 - Why he came to believe that buying cheap assets is the key to successful investing.&nbsp;</li><li>26:01 - What is his view of the current investment environment?</li><li>36:37 - Why Marks regards emotion as the “greatest enemy” of superior investing.</li><li>48:40 - How to invest successfully in a period of high inflation.</li><li>54:48 - Why Marks now believes that his “knee-jerk skepticism” about Bitcoin was wrong.</li><li>58:43 - Why Marks is bullish on China at a time when most foreign investors are running scared.</li><li>01:04:03 - Why moral values like integrity, candor, and fairness are essential to a good life.</li><li>01:14:00 - How to succeed by playing to your own strengths and living life on your own terms.</li></ul><p>&nbsp;</p><p><em>*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.</em></p><p><br></p><p><strong>BOOKS AND RESOURCES:</strong></p><ul><li>Howard Marks’ <a href="https://www.oaktreecapital.com/insights" rel="noopener noreferrer" target="_blank">Memos</a>.</li><li>Howard Marks’ <a href="https://www.oaktreecapital.com/insights/memo/something-of-value" rel="noopener noreferrer" target="_blank">“Something of Value” Memo</a>.</li><li>Howard Marks’ book, <a href="https://amzn.to/3I7tSnc" rel="noopener noreferrer" target="_blank">The Most Important Thing Illuminated</a>.</li><li>Howard Marks’ book, <a href="https://amzn.to/3q1GsxX" rel="noopener noreferrer" target="_blank">Mastering the Market Cycle</a>.</li><li>Preston and Stig discuss The Most Important Thing book on <a href="https://www.theinvestorspodcast.com/episodes/the-most-important-thing-by-billionaire-howard-marks/" rel="noopener noreferrer" target="_blank">We Study Billionaires Episode 073.</a></li><li>Trey inter