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

[@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

[@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.

[@jerryB310]

All great investors are great thinkers And Teachers

[@braveones7053]

kzbin.info/www/bejne/rmnTpGCQn9Csj6s

[@viratrana]

What a privilege to get to hear these lectures..

[@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

[@theswedishmoose-z9p]

Oooo

[@helenkok1360]

@@231wildy þþþtþ5t5þtt⁵þtþttþtttþttþþþtþþttttþþþþtþttþttþþþtþþtþþtþtttþttþþþþþtþþþþþþþttþþþtttþttþþþþttþþtþþtþtþþþþþtþtþtþþþþþttþtttþþtþþþþttþþtþþþþþtþþþttþþþþtþtþttþttttþþþtþþþtþþþþþþþþtþþtþþþþþþtþtþttttttþþþþ⁵þþþþþtþtþþþþþtttþþtþþþtþþþþþtþþþtþttþþttþþþþtþtþtþþþtþttþþþþttþtþþtttþtþttþþttþtþþþþtþþþtþþþþttttt5tþtþtttþþþtttþtttttttþþþþtþtþtþþþþtttttttþttþtýtþt5þþþþþþttþttþttttþþþþþttþtþþþtþþtþtþþttttþþþttttþtþþttþþþt⁵þtþþþþþþþþþþþttþtttþttþþttþþþtþttþtþþtþtþþþþþþþttþþþþþt⁵tþþþtþþtttþþþþtþþttþtþþtþþþtþþþttttttttttþtttttþtttþtttþtttþtttttþttþtþttttþttþtttþtþtþþtþþþttþþþþþþþþtþþþtþtþþþþþttþþtþtttttttttþþþþtþþþþþtþtþttþtþtþþþþ5ytþþtþþþþtþþþþt⁵ttþþþþþþþþttþþþþttþþþþþþþþtþþþþþtþþþtþtþþþþþþtþþttþþþþþttþþþþþttþþþþþþþþþtþþtþþþþtþþþþþþþþtþþþttþþþþþtþþþþþþþttþþttþtþþtþþþþtþttþþþþþþtþþþþþþt⁵þtþþþþþþttþþþtþtþtþtþþþtþþttþþttþtþþþttttttþtttþþtþþtþþttþþþþþtþþþþþþþtþþþþttþþþtþþtþþþþttþþþþþtþtþþtþþtþtþþtþtþþtþþþttþþtþttþþt⁵þtttþtþþþtþþþþþtþþþþttþþþþþþþtttþþtþþtttttttþþtþþþþttttttþttþþtþþþþþþþþþtþtþttþþtþtþþþþþtttþtþþtþtþþþþþþþþ⁵tþþtþ4tttþþþþttþþþttttþþttttþtttþþttttþttttttþþþtttttþttþþþþttþttttþtþtttttttþttþþþþtþtþtþttþtþtttttttttþtþtþþþþtþþtþþþþtþþþþtttþþþþtþþ

[@braveones7053]

kzbin.info/www/bejne/raHPhJuVZ5Vqe9U

[@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

[@phamhoaU2BE]

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

[@andrewereynolds5840]

Howard Marks is one of the great Maestros of investing.👍

[@KhamPisethOfficial]

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

[@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.

[@landi2244]

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

[@tuepham3293]

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

[@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

[@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.

[@NEYHIUM]

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

[@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.

[@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.

[@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 🦧

[@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.

[@ArunRamakrishnan]

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

[@braveones7053]

kzbin.info/www/bejne/raHPhJuVZ5Vqe9U

[@vijaysanjyot]

One of the most important investor lessons I learned today.

[@LemmingAttack]

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

[@mxolisijaydlamini441]

Growth Showing grace. Love these . Danko!

[@DonaldnotTrumip]

Contrary to this DOW also just hit a record high. I'm optimistic about the prospect of the market. Also keeping an eye on digital currencies. I'm seeking ways I could divest some of my portfolio, maybe around 150k, to include digital currencies. Can you make a video on that?

[@JakePeterson-n9d]

A long-term approach can definitely help with navigating market volatility. set clear goals, focus on quality Investments, stay patient and avoid emotional reactions.

[@ChrisWoodBritton]

Such uncertainties are the reasons I don’t base my judgement on a ''heresay''. My dollar portfolio is made up of 30% S&P500, 25% Index funds(ETFs),15% Gold and over 30% in digital assets, thanks to my CFA for this accurate asset allocation. This strategy is what works for my spouse and I. We've made over 80% capital growth minus dividends.

[@Mitchellee-g2s]

@@ChrisWoodBritton I find your situation fascinating. Would you be willing to suggest a trusted advisr you've worked with?

[@ChrisWoodBritton]

@@Mitchellee-g2s I've stuck with ‘’Zareen Grace Church” and her performance has been consistently impressive. She’s quite known in her field, look her up.

[@Mitchellee-g2s]

@@ChrisWoodBritton Thanks for the info. I searched for her full name and found her website right away. I reviewed her credentials and did my research before reaching out to her.

[@TheMCL2]

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

[@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.

[@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!

[@danielleviel]

Marks Howard master of investing my question now is I've tried investing in various things that didn't work out as I hoped. Now, I'm looking at ETFs as a more reliable option. What are the best 5 ETFs for a beginner looking to invest a lump sum?

[@davidbenett1]

In no order: 1) VOO 2) QQQM 3) SCHG/VUG 4) VTI 5) SCHD/DGRO. Personally I put down 1.2m$ on few ETFs, still diversifying. it was this time last year I made my first break through with a liquid 370k. Handed it to a trader here in TX, I get weekly pay out which I put back on long term ETF's. Tesla will be a huge buy for me when the market bottoms.

[@danielleviel]

Thank you, I already added VOO and QQQM, can you share this Pro with me.

[@tobefreeandfly1549]

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

[@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.

[@pwatom22]

Moving forward to today... The bit you really should see starts around 52:10. This is where the question is asked about passive index investing. Marks reply is insightful... i.e. he states this creates opportunity. However, one can argue his fundamental thesis that the most important thing is buying undervalued companies is now not a good thesis. Perhaps the most valuable takeaway is that the investing environment is evolving and you need to evolve your strategy accordingly. It is effectively a casino with few rules. The highly accomplished mathematician Jim Simons had it nailed. He was the most successful fund manager through the 90s until near his passing this year. Truly understanding options activity and trading over short/medium term is likely your best strategy to on balance beat the house. The investment business is a self serving and somewhat ponzi like. Good luck 😉

[@vtvprem]

Very good learnings for budding investors.

[@danielzha7826]

Insightful and eye-opening talk.

[@novrehus]

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

[@adriancline-bailey3301]

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

[@youbian]

Can always learn

[@topher_512]

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.

[@LarryJ2012]

What a great teacher.

[@antonycarles1499]

full of gems and insights

[@cv0669]

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

[@QuantApplicantMattKulis]

great tennis analogy, hitting winners vs consistently avoiding losers

[@manishchandak5019]

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

[@corylowe5557]

Awesome video

[@woodstockenvy4666]

Superb .. thank you for sharing this ..

[@dtdrwo]

great investor with great philosophy.

[@rossolinger4477]

This is absolutly golden

[@saurabhbcn]

Amazing talk!!!

[@n.d8001]

brilliant talk, thank you

[@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.

[@deepak2012able]

Thanks 🙏💯💎

[@dewaynegoforth2472]

Indexation part at 52:34 was 🔥

[@rakeshrout8739]

Great lessons

[@Selfmadetitans]

Thank you

[@jasonjstdr]

Lecture clearer than his book

[@chiawildy563]

This is still the most important thing.

[@vipingupta3694]

Genius, absolutely Genius

[@Pathfinder_tua]

The man is great

[@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.

[@williamjenkins7562]

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

[@omar1003ramo]

Que aula desse investidor , Thanks Google

[@Texas80]

I need to get his book.

[@ArjabalasubramanyamChanti]

Congratulations 🎉 Google world 🌎 happy blessings shalom Amen 🙏

[@ankurbamne7155]

Great talk

[@normantingee]

thank you google and thank you howard mark

[@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

[@frankmathews1358]

He is really good at explaining finance. #kiss

[@techchase5420]

Excellent philosophy

[@JCResDoc94]

16:16 You Can Not Survive On Average

[@ramnarayan9768]

Clarity of thoughts

[@shraddhanjalisoni1161]

howard marks is genius

[@TeriyakiTofu]

its amazing this guy still has a career

[@yakultum]

Really good

[@domtoretto3122]

The most important thing is family

[@avinkon]

Howard Marks is great as always intro was terrible apart from that rest was great😂

[@ankalaakhilesh7821]

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

[@thatguy-cu3iq]

Saurabh Madaan

[@getstarted7168]

52:52 good question.

[@dadcannabis1924]

the most important thing is change and staying the same

[@DocworldAcademy]

Very Practicle Way to making money on Investment.

[@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.

[@theclashcalling_]

I was hoping for the Welsh hash smuggler!

[@ScopeLP]

The error is clear! The herd applies optimism at the top and Pessimism at ghe bottom. Thus to profit, you must be Sceptical of the optimism that thrives at the top, and sceptical of the Pessimism that prevails at the bottom" ~Howard Marks: The limits to Negativism- Sept 15, 2009.

[@cliffkuo3787]

somehow I played this video every night

[@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.

[@iceyred6668]

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

[@Jacob930321]

45:50 Q&A

[@jholid6y]

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

[@guillermocrespo8144]

Great

[@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

[@mooose2]

I love Howard Marks....he's one of my favorites for investment philosophy.....but i just gotta point something hypocritical out that ppl his age don't understand......at 7:12.... he talks about hist first job at citibank in the finance industry in 1968.... he's says jokingly it was "12.5-14.0 a year...not a month"........the crowd laughs........according to the cpi index....he had the purchasing power of 100k-117k per year in todays world......even in 2015 when this video was made...that salary would've given him 85k-95k purchasing power during 2015

[@josereydabalos185]

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

[@Lenny1337i]

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

[@BARAKDANIELI]

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

[@billtomson7514]

So is he teaching or selling?

[@eleojimenez6398]

30:00

[@eleojimenez6398]

30:45

[@gertrudesmadrigal4908]

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

[@barovierkevinallybose1040]

"In many countries they just don't get it" sounds condescending. Not because you are in a developed country, it means that you are more aware than everyone else.

[@robertwnorrisii9143]

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

[@어나니S]

34:50

[@CesarOrille]

Thanks Google.

[@m4ni5h]

45:30