THE MOST IMPORTANT THING (BY HOWARD MARKS)
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Published 2019-04-17
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In this animated video summary of The Most Important Thing, I will reveal the best stock market advice from the man who have mastered the market cycles, Howard Marks.
Learn to invest like the world’s greatest – Warren Buffett: bit.ly/2RT5per
Top 5 takeaways from Howard Mark’s The Most Important Thing:
00:00 Intro
01:22 1. Risk: Understand, recognize, and control it
05:25 2. Be aware of the cycles
07:40 3. Mind your psychological influences
09:58 4. Don’t be a sheep in a herd
12:02 5. The role of chance
TL;DW:
- Pay attention to risk! Control risk by figuring out what an asset is worth and compare that to what it costs. Insist on a margin of safety
- Think about where in the market cycle we’re at. Is the market greedy of fearful?
- Avoid psycological errors by focusing on fundamentals
- Only dead fish follow the stream – be a contrarian. Zoom out and use the movement of the herd to your advantage.
- Remember: Some bad decisions produce good outcomes. Therefore - an investment decision can never be judged on its outcome alone.
My goal with this channel is to help you make more money and improve your personal finances. How to become a millionaire? There are many ways to get there – investing in the stock market, becoming a stock trader, doing real estate investing, or why not becoming an entrepreneur? But whether you are interested in how to invest in stocks or investing strategies for creating passive income with rental properties – I hope to be able to provide you with a solution (or at least an idea) here. Warren Buffett - the greatest investor of our time - says that you should fill your mind with competing ideas and then see what makes sense to you. This channel is about filling your mind with those ideas. And in the process – upgrading your money-making toolbox.