The Most Important Thing Illuminated BY Howard Marks
Howard Marks’s The Most Important Thing distilled the investing insight of his celebrated client memos into a single volume and, for the first time, made his time-tested philosophy available to general readers. In this edition, Marks’s wisdom is joined by the comments, insights, and counterpoints of four renowned investors and investment educators: Christopher C. Davis (Davis Funds), Joel Greenblatt (Gotham Capital), Paul Johnson (Nicusa Capital), and Seth A. Klarman (Baupost Group). These experts lend insight into such concepts as “second-level thinking,” the price/value relationship, patient opportunism, and defensive investing. Marks also adds his own annotations, expanding on his book’s original themes and issues. A new chapter addresses the importance of reasonable expectations, and a foreword by Bruce C. Greenwald, called “a guru to Wall Street’s gurus” by the New York Times, speaks on value investing, productivity, and the economics of information.
About The Most Important Thing Illuminated: Uncommon Sense for the Thoughtful Investor Book
Howard Marks is a legendary investor and the author of The Most Important Thing Illuminated. In his book, he shares his wisdom about how to invest wisely and sustainably.
I was excited to read this book because I’ve always been interested in investing and how it works. I had heard good things about Howard Marks, so I thought this would be a great place to start learning more about him and his approach to investing.
The book’s first chapter starts with a simple question: what is the most important thing? Howard answers that it’s risk management. He then explains why risk management is so essential, why investors need to understand it, and how they can use it to help them make better decisions when it comes time for them to make decisions about their investments.
The Most Important Thing Illuminated is one of those books where you’ll want to take notes as you read because there are so many valuable lessons here! It’s also written so that even if you’re not familiar with investing or finance yet (like me!). Thanks to Howard’s clear explanations and examples throughout the text, you’ll still be able to follow along easily, which makes this book perfect for beginners looking for their first introduction to this world!
The Most Important Thing Illuminated: Uncommon Sense for the Thoughtful Investor (Columbia Business School Publishing)
Author(s): Marks, Howard; Johnson, Paul; Greenwald, Bruce C N(Foreword)
Publisher: Columbia University Press, Year: 2012;2015