The Most Important Thing
Uncommon Sense for The Thoughtful Investor
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The Most Important Thing
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Narrated by:
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John FitzGibbon
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By:
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Howard Marks
About this listen
Howard Marks, the chairman and cofounder of Oaktree Capital Management, is renowned for his insightful assessments of market opportunity and risk. After four decades spent ascending to the top of the investment management profession, he is today sought out by the world's leading value investors, and his client memos brim with insightful commentary and a time-tested, fundamental philosophy. Now for the first time, all listeners can benefit from Marks's wisdom, concentrated into a single volume that speaks to both the amateur and seasoned investor.
Informed by a lifetime of experience and study, The Most Important Thing explains the keys to successful investment and the pitfalls that can destroy capital or ruin a career. Using passages from his memos to illustrate his ideas, Marks teaches by example, detailing the development of an investment philosophy that fully acknowledges the complexities of investing and the perils of the financial world. Brilliantly applying insight to today's volatile markets, Marks offers a volume that is part memoir, part creed, with a number of broad takeaways. Marks expounds on such concepts as "second-level thinking", the price/value relationship, patient opportunism, and defensive investing. Frankly and honestly assessing his own decisions - and occasional missteps - he provides valuable lessons for critical thinking, risk assessment, and investment strategy.
Encouraging investors to be "contrarian", Marks wisely judges market cycles and achieves returns through aggressive yet measured action. Which element is the most essential? Successful investing requires thoughtful attention to many separate aspects, and each of Marks's subjects proves to be the most important thing.
PLEASE NOTE: When you purchase this title, the accompanying reference material will be available in your My Library section along with the audio.
Download the accompanying reference guide.©2012 Howard Marks (P)2012 Audible, Inc.Listeners also enjoyed...
Critic reviews
What listeners say about The Most Important Thing
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Overall5 out of 5 stars
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Performance5 out of 5 stars
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Story5 out of 5 stars
- MB
- 31-03-19
Well structured and insightful
I rarely give a 5 star rating but this book truly deserves it. Loads of wisdom and thoughts provoking insights in it. Also easy to follow as an audio book and well narrated. One of the few to be re-listened at some point in the future.
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2 people found this helpful
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Overall5 out of 5 stars
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Performance4 out of 5 stars
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Story5 out of 5 stars
- steven griffiths
- 25-02-22
Bit of a variation on Mr Nice
I was expecting tales of when Howard Marks aka Mr Nice got stoned to various states but this was good anyway
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Overall5 out of 5 stars
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Performance3 out of 5 stars
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Story5 out of 5 stars
- rnd
- 20-03-21
book is great
narrator sucks
book is 6 star
need to view charts at the time of listen
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Overall5 out of 5 stars
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Performance5 out of 5 stars
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Story5 out of 5 stars
- Rostam
- 03-02-22
Best
Very likely the best book in investing
On market psychology, behaviour, strategy, common fallacies
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Overall5 out of 5 stars
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Performance5 out of 5 stars
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Story5 out of 5 stars
- mo
- 06-12-17
Great content very well read must buy
Easy to listen to with great insights, would recommend to any would be investor. Enjoy
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Overall5 out of 5 stars
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Performance5 out of 5 stars
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Story5 out of 5 stars
- Hasnat Safder
- 26-10-19
The most important thing is this book
Nobody really knows what tomorrow will bring, so rather than predicting this books tells you to watch your tomorrow and be prepared. Excellent analysis and examples used throughout the book.
Wonderfully narrated too John FitzGibbon.
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5 people found this helpful
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Overall5 out of 5 stars
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Performance5 out of 5 stars
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Story5 out of 5 stars
- Mat Brunt
- 25-01-20
So good I finished it in one go
Content of the book is very good, didn't feel overly technical, more like just listening to someone tell a series of stories to illustrate a point. Narration of this book is excellent, the voice was engaging and combined with the content I suddenly found my days plans cancelled so I didn't have to stop.
The material does start to repeat itself a little midway through the book, but I still found it interesting, it just reinforced earlier passages.
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4 people found this helpful
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Overall5 out of 5 stars
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Performance5 out of 5 stars
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Story5 out of 5 stars
- AFM
- 29-03-20
A well written book, good lessons about investing!
An easy listen with where lessons learned is shared from years of experience. Thoroughly enjoyed it.
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Overall5 out of 5 stars
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Performance5 out of 5 stars
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Story5 out of 5 stars
- Amazon Customer
- 06-08-20
A gem!
So much wisedom. A must to better understand the market and it's limited rationality.
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Overall4 out of 5 stars
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Performance5 out of 5 stars
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Story5 out of 5 stars
- Mr. H.
- 19-08-20
Insightful
nothing ground breaking once you have read most basic books on investing. this does not however take away from its validity (obviously as it was written by Howard Marks!). this book is not trying to give you specifics nor is it trying to as it specifically specifies that. it helps summarise the important principles that depicts the wood from the trees.
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