The Most Important Thing - Origins and Inspirations | Howard Marks | Talks at Google

Warren Buffett said "When I see memos from Howard Marks in my mail, they're the first thing I open and read." Howard is the Co-Chairman of Oaktree Capital Management. He is known in the investment community for his "Oaktree memos" to clients which detail investment strategies and insight into the economy. He treats investing as equal parts psychology and finance, and his book The Most Important Thing provides "uncommon sense for the thoughtful investor."

[@heliowinter]

Thank you Google, for doing this for free and avaliable to everyone. AWESOME, Howard Marks is great!

[@jaysontoh1988]

heliowinter Tc CCO ccc

[@braveones7053]

kzbin.info/www/bejne/raHPhJuVZ5Vqe9U IPO

[@231wildy]

Warren Buffett said "When I see memos from Howard Marks in my mail, they're the first thing I open and read." This is exactly how I feel today. My best few hours spent in my lifetime.

[@231wildy]

I rewatch this every few nights. The underlying messages carry so much weight and meaning. Wish i had watched this earlier than to hear out random.... mr-know-all. Investing never easy and was.... never easy to start with

[@mando8222]

That means you better read them first too

[@christianloewe1902]

Oooo

[@helenkok1360]

@@231wildy þþþtþ5t5þtt⁵þtþttþtttþttþþþtþþttttþþþþtþttþttþþþtþþtþþtþtttþttþþþþþtþþþþþþþttþþþtttþttþþþþttþþtþþtþtþþþþþtþtþtþþþþþttþtttþþtþþþþttþþtþþþþþtþþþttþþþþtþtþttþttttþþþtþþþtþþþþþþþþtþþtþþþþþþtþtþttttttþþþþ⁵þþþþþtþtþþþþþtttþþtþþþtþþþþþtþþþtþttþþttþþþþtþtþtþþþtþttþþþþttþtþþtttþtþttþþttþtþþþþtþþþtþþþþttttt5tþtþtttþþþtttþtttttttþþþþtþtþtþþþþtttttttþttþtýtþt5þþþþþþttþttþttttþþþþþttþtþþþtþþtþtþþttttþþþttttþtþþttþþþt⁵þtþþþþþþþþþþþttþtttþttþþttþþþtþttþtþþtþtþþþþþþþttþþþþþt⁵tþþþtþþtttþþþþtþþttþtþþtþþþtþþþttttttttttþtttttþtttþtttþtttþtttttþttþtþttttþttþtttþtþtþþtþþþttþþþþþþþþtþþþtþtþþþþþttþþtþtttttttttþþþþtþþþþþtþtþttþtþtþþþþ5ytþþtþþþþtþþþþt⁵ttþþþþþþþþttþþþþttþþþþþþþþtþþþþþtþþþtþtþþþþþþtþþttþþþþþttþþþþþttþþþþþþþþþtþþtþþþþtþþþþþþþþtþþþttþþþþþtþþþþþþþttþþttþtþþtþþþþtþttþþþþþþtþþþþþþt⁵þtþþþþþþttþþþtþtþtþtþþþtþþttþþttþtþþþttttttþtttþþtþþtþþttþþþþþtþþþþþþþtþþþþttþþþtþþtþþþþttþþþþþtþtþþtþþtþtþþtþtþþtþþþttþþtþttþþt⁵þtttþtþþþtþþþþþtþþþþttþþþþþþþtttþþtþþtttttttþþtþþþþttttttþttþþtþþþþþþþþþtþtþttþþtþtþþþþþtttþtþþtþtþþþþþþþþ⁵tþþtþ4tttþþþþttþþþttttþþttttþtttþþttttþttttttþþþtttttþttþþþþttþttttþtþtttttttþttþþþþtþtþtþttþtþtttttttttþtþtþþþþtþþtþþþþtþþþþtttþþþþtþþ

[@braveones7053]

kzbin.info/www/bejne/raHPhJuVZ5Vqe9U

[@nivagnoswal]

Excellent lecture, Howard Marks is almost as good a teacher as he is an investor.

[@kingcountyband]

Probably why he made his money investing and not as a professor. I want to read his books and the ones he's mentioned as well.

[@wyh194]

All great investors are great thinkers And Teachers

[@braveones7053]

kzbin.info/www/bejne/rmnTpGCQn9Csj6s

[@pxy21cwru]

I've been watching all the videos on this playlist. Is anyone else wondering why these videos do not have millions and millions of views? I mean honestly, there is so much money to be made by these insightful security analyses that all branch off Buffet, Graham, and Dodd's investment philosophies. It's like the world is backwards, because we have these useless music videos that promote hyper consumption garnering millions of views daily, and then whenever gems like these videos are out for the the whole entire public to use, not even 100,000? Same thing goes with the Yale Courses, the MIT OPENCOURSWEARE, the Stanford Graduate School Business videos. I guess value investing applies to personal development as well!

[@needviola]

+Peter Yoon don't share them. The more value investors, the less it works....

[@ArunRamakrishnan]

+Zach Dellinger Knowledge shared nevers yields less. If Linus thought the same way, we wont have Linux today :)

[@needviola]

+Arun Ramakrishnan Think your right. Besides, every time I try to explain to someone that can buy a dollar for 50 cents, 9 xs out of 10 there eyes glaze over. People are wierd....

[@ArunRamakrishnan]

Well most of the crowd wants to buy the hot dollar at $5 and want 10X returns in 1 week :) In fact 6 months is loong term investing for them. So talking abt Seth Klarman or Howard Marks is a lost cause :)

[@lekabros]

+Peter Yoon By definition, to make money, there should be many that are wrong.

[@ramnathprabhu4867]

What a clarity of thought. Look at the way he explains complex subject with so much ease. Thanks for uploading this video

[@rossolinger4477]

that's how you know he knows what he's talking about

[@adavayya]

Thanks to Google for these talks. Howard Marks' memos have many life lessons and teach more than just investing. His book "The Most Important Thing" is a must read for everyone.

[@braveones7053]

kzbin.info/www/bejne/rmnTpGCQn9Csj6s

[@viratrana]

What a privilege to get to hear these lectures..

[@Devrhoid]

Definitely getting that book. I mean really look at the points. I have always heard about Howard but I am just now getting to his Investment Philosophy. I've been going through Joel Greenblatt, Peter Lynch, Guy Spier and Mohnish's stuff. Thank you Investor Archive.

[@KhamPisethOfficial]

This video deserves more views. Great content from the man who has a vast experience.

[@MrBloody32]

Read the book around Christmas time and really enjoyed it. I wish he did more public speaking, there are only a handful of lectures on KZbin.

[@modesto885]

This talk was one of the best i've heard in a while. Is there a way i can upvote this video 3times per one click?

[@gordongordon98]

Be careful with that leverage son 🦧

[@NEYHIUM]

A diamond lecture, thanks Google for do this accesible for all people!

[@chicjelly]

Most unpretentious yet intense and punchy like hack though softly delivered. I have to pause every now and then to stomach and take it in, feeling stricken to the core. I think he'd also make a great obi wan kenobi in Star Wars, if given a hoodie! I can listen to him all day.

[@tactical-offset]

Phenomenal investor. He knows how evaluate a business and he looks for when the crowd is running from businesses so he can buy businesses.

[@vijaysanjyot]

One of the most important investor lessons I learned today.

[@phamhoaU2BE]

Thank you Howard for the wonderful presentation and Google Talks for organizing this. ❤❤❤❤

[@danielzha7826]

Insightful and eye-opening talk.

[@tuepham3293]

Wow, I didn't expected this much of insights and wisdoms from Howard Marks. Thank Google for arranging this incredible talk !

[@TheMCL2]

The entire video is good but the Q&A was very insightful.

[@nobertstanel9428]

Listened to his speech in India over 20 times again and again, and il keep doing it with this one as well, because these are the fundamental truths of investing, incredibly valuable - Thank You.

[@LarryJ2012]

What a great teacher.

[@n.d8001]

brilliant talk, thank you

[@ArunRamakrishnan]

Wow what a talk. Thanks for arranging this Google :)

[@braveones7053]

kzbin.info/www/bejne/raHPhJuVZ5Vqe9U

[@vitolazlo5767]

These ideas and teachings by Mr. marks, can also be applied to life in general. Our process for decision making. Some, of the hardest investment decisions that I have made, made me the most money.

[@rossolinger4477]

This is absolutly golden

[@LemmingAttack]

Excellent introduction, it really sets my expectations for this talk.

[@saurabhbcn]

Amazing talk!!!

[@novrehus]

30:00 and the minutes that follow. Take notes.

[@vtvprem]

Very good learnings for budding investors.

[@mxolisijaydlamini441]

Growth Showing grace. Love these . Danko!

[@sujalkoirala3675]

There is sth called the uncertainity principle in physics too. You can't measure the position and momentum at the same time with very high accuracy.

[@adriancline-bailey3301]

Honestly, I got gems about life as well as pragmatic investing. Ha. Great guy!

[@youbian]

Can always learn

[@rakeshrout8739]

Great lessons

[@cv0669]

So good - can’t wait to dig into the audiobook

[@mr12aT]

"In the end buyers took out the biggest mortgage possible given there incomes and prevailing interest rates, such mortgages would land then in the houses of there dreams and will leave them there as long as conditions did not deteriorate which they invariably do"

[@KingWillSkill]

Powerful words.

[@woodstockenvy4666]

Superb .. thank you for sharing this ..

[@choi9418]

40:00 I want to be above the middle on a consistent basis over the long term. We want to be a little bit above the middle all the time. We think that over a long period of time we will be very respectable that way. Thank you for great videos!

[@tobefreeandfly1549]

What a great lesson...Howard Marks is awesome!

[@Texas80]

I need to get his book.

[@landi2244]

"You should not act as if the things that should happen, are the things that will happen" . Thats deep.

[@ankurbamne7155]

Great talk

[@techchase5420]

Excellent philosophy

[@QuantApplicantMattKulis]

great tennis analogy, hitting winners vs consistently avoiding losers

[@antonycarles1499]

full of gems and insights

[@manishchandak5019]

10:42 Decisions Under Uncertainty: Drilling Decisions by Oil and Gas Operators Book by C. Jackson Grayson

[@omar1003ramo]

Que aula desse investidor , Thanks Google

[@chiawildy563]

This is still the most important thing.

[@chrispedersen2526]

This was incredible! Glad I found this gem. Hopefully price sensitive investing pays off for me. Think I learned my lesson buying high in 2021, whoops! Not doing that again.

[@Selfmadetitans]

Thank you

[@williamjenkins7562]

The secret to success is to get it right ounce and allow compound interest to be reinvested over time.

[@dtdrwo]

great investor with great philosophy.

[@TedMinnesota]

What date was this presentation given? Thanks.

[@tburnstead]

The title slide says March 27, 2015

[@leeongsen3276]

Ted e i think the presentation was given before Dec 18, 2014 this is because based on the latest howard memo :"The Lessons of oil" www.oaktreecapital.com/memotree/The%20Lessons%20of%20Oil.pdf he mention: For the last 3½ years, Oaktree's mantra has been "move forward, but with caution". For the first time in that span, with the arrival of some disarray and heightened risk aversion, events tell us it's appropriate to drop some of our caution and substitute a degree of aggressiveness

[@vipingupta3694]

Genius, absolutely Genius

[@jasonjstdr]

Lecture clearer than his book

[@shraddhanjalisoni1161]

howard marks is genius

[@corylowe5557]

Awesome video

[@theclashcalling_]

I was hoping for the Welsh hash smuggler!

[@yakultum]

Really good

[@ankalaakhilesh7821]

how is the one who conducted the interview? anyone knows his name pls????

[@thatguy-cu3iq]

Saurabh Madaan

[@guillermocrespo8144]

Great

[@deepak2012able]

Thanks 🙏💯💎

[@ramnarayan9768]

Clarity of thoughts

[@normantingee]

thank you google and thank you howard mark

[@dadcannabis1924]

the most important thing is change and staying the same

[@DocworldAcademy]

Very Practicle Way to making money on Investment.

[@JCResDoc94]

16:16 You Can Not Survive On Average

[@getstarted7168]

52:52 good question.

[@TazooMarketingLondon]

The man is great

[@domtoretto3122]

The most important thing is family

[@Jacob930321]

45:50 Q&A

[@tomlxyz]

Aren't forecasts in economics hard because everyone's forecasts are already priced in?

[@staciarine]

Nowadays is almost impossible to find good securities at fair prices. Everything is just so expensive.

[@dada01ish]

9:18 Both sentences mean exactly the same.

[@youbian]

- You make no money doing the things everybody wants to do / you make money by doing the things nobody wants to do that then turn out to have value.

[@cliffkuo3787]

somehow I played this video every night

[@josereydabalos185]

in every light dat are night.in the middle of the night they are many star to eye many one.tomorow is tomorow...

[@gaulindidier5995]

Somebody has to find out why people have a propensity to cough more during conferences, shows and gathering involving sitting down...

[@tomlxyz]

I think it has to do with not speaking themselves for a long time

[@gertrudesmadrigal4908]

Gosto Kong Pato Nayan sa lahat totoo Ang aking senabi salamat Po Kong mabibih yon ako Ng pag kakataon totolong talaga ako sa nangang ilangam Hinde Pera panalangin sa pag hawak ko sa may sakit gosto Kong makatolong salamat Po totolong Hinde ako Ang nag hak sa iyo god bless yo po

[@iceyred6668]

Saraha's Father was Abraham and Saraha's Mother was Sarah //nd.D english zion

[@gertrudesmadrigal4908]

Salamat Po alam ko Po na Wala akong karapatan dahil mahirap lang ako salamat Po

[@frankmathews1358]

He is really good at explaining finance. #kiss

[@user-bj9sw7bz5g]

34:50

[@cmlon]

厲害！

[@josereydabalos185]

if you study not being to learning becoz study is none of your duty..like you one me..becoz alot of learning is a big problem all are needs becoz you work for everything..but all are desame what are being is you one me_1+1+1=all- one.but the true is 3/tree is many year in one day all harvest in same 1.is all.

[@robertwnorrisii9143]

He's a mean guy that Nassim Taleb. He Blocked me for asking questions about his Maths process. Bummer.

[@BARAKDANIELI]

ארשום בעברית בכוונה- אמליץ לדוברי העברית ולישראלים להקשיב להרצאות הללו בקשב רב ,מעניינות,מדוייקות ואכן משקפות הרבה מציאות ,ברק דניאלי

[@jholid6y]

Google is probably very uncomfortable when a guy says ‘I don’t know’.

[@haipengli4769]

You gotta survive on bad days.

[@gertrudesmadrigal4908]

Bakit mahirap Ng hindenakapag aral nahkakamali Ikaw Ang inilik ko iba Ang lomabas kala ko Ikaw yon salamat Hinde nakitamakikita Ikaw yong tinitinan ko pag Gabi big la Kang nawala salamat kahit ayaw Mona sa akin nakitakitsoli salamat

[@candyfloss184]

Inaudible == Saurabh ( Indian name)

[@m4ni5h]

45:30

[@TranDoan_1991]

12'50

[@geetikaarora6581]

30:00

[@TeriyakiTofu]

its amazing this guy still has a career

[@---hz3sy]

Jesse if you dont like him su

[@josereydabalos185]

keyfile:1001235857-format=xlsx-output=xlsx.Api_key=3265267457.

[@TranDoan_1991]

39'15

[@Lenny1337i]

48:26 this aged sooo well with oil futures for US at -20 Dollars in march haha

[@martingenet8799]

11 min in

[@CesarOrille]

Thanks Google.

[@TranDoan_1991]

52'50