This Investor Raised Billions by Making Complicated Ideas Simple | Howard Marks

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Want to build influence with great ideas and simple writing? Look no further than Howard Marks.
Most smart people use big words and plastic jargon to reinforce the barrier between themselves and “the common folk.” Howard, on the other hand, breaks down this barrier, and that’s why his ideas are so influential (and why he’s Warren Buffett’s favorite author).
Ironically enough, simple writing is the hardest to master. Einstein once said that there are four types of intelligence: “bright, brilliant, genius, and simple.” In this episode, you’ll hear how Howard turns decades of investment expertise into clear, simple language.
You’ll learn:
*Why high-quality work is more important than ever
*How discovering your unique point of view is crucial if you want your ideas to make an impact
*Howard’s four tenets for high-quality writing: clarity, humor, interesting topics, and challenging your reader.
Ultimately, you’ll learn how this billionaire investor shares his ideas in a way that engages and delights his audience, and how you can, too.
TIMESTAMPS:
00:00:00 Introduction
00:02:00 Simplicity
00:03:15 Output
00:05:00 Getting Lucky memo
00:06:45 Giving away investing secrets
00:08:30 Howard's process for writing
00:11:45 Distillation of ideas
00:13:50 Industry jargon
00:15:00 Early years
00:17:15 Wharton School
00:22:45 What makes a good annual letter
00:25:55 Life philosophies
00:28:40 Thinking visually
00:31:48 Warren Buffett
00:33:45 Jeff Bezos
00:38:30 Favorite writers
00:41:00 Risk
00:46:08 Reconciliation
00:51:55 What is the most important thing?
SPEAKER LINKS:
Website: www.oaktreecapital.com/about/...
Twitter: / howardmarksbook
Books: www.amazon.com/Howard-Marks/e...
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PODCAST LINKS:
Website: writeofpassage.school/how-i-w...
Apple: podcasts.apple.com/us/podcast...
Spotify: open.spotify.com/show/2DjMSbo...
ABOUT THE HOST:
I’m David Perell and I’m a writer, teacher, and podcaster. I believe writing online is one of the biggest opportunities in the world today. For the first time in human history, everybody can freely share their ideas with a global audience. I seek to help as many people publish their writing online as possible.

[@DavidPerellChannel]

Howard Marks manages ~$190 billion and has penned some of the world's best investment writing. Warren Buffett loves his writing too: "When I see memos from Howard in my mail, they're the first thing I open." Here are 13 key insights from our conversation: 1) For Howard Marks, heaven is seven little words: “I never thought of it that way.” Get the reader to say them and you win. 2) Einstein supposedly said there are four levels of intelligence: bright, brilliant, genius, and simple. Insecure writers try to flaunt their expertise with jargon; secure writers share what they know in surprising yet simple ways. 3) Something about putting words to paper freezes people up. Hence, Howard Marks tries to write as he speaks. Lesson: Take your written voice closer to your conversational voice. You’ll discover a new freshness and speed in your work. 4) Most writing rings hollow. No stories or thought-out principles inside. Howard Marks’ challenge to writers: Have experiences, cultivate convictions, and then your writing will come alive like never before. Thoreau said it best: “How vain it is to sit down to write when you have not stood up to live.” 5) Find your creed. What do you believe in? What do you think will work? What will not work? What are the rules that govern your decisions? People listen intently when you speak from a "principled voice." 6) Be eclectic in your subject matter and sources. Tackle the same point from different angles to create a richer reading experience. For example, in his memos, Howard Marks has explained investing via the prism of gambling, poker, sports, and more. 7) Howard Marks’ knack for analogies has made him one of Warren Buffett’s favorite writers. Takeaway: Come up with more surprising comparisons. Make cross-disciplinary connections. 8) What Howard admires in Buffett’s writing: its accessibility, folksy simplicity, and humor. A great example is Buffett’s description of the 2008 financial crash: “It's only when the tide goes out that we find out who's been swimming naked.” 9) Writing is anti-BS because the reader can keep re-reading until the hole in your logic becomes clear. You will get away with some BS in conversation, but if you want to discover and fix the holes in your ideas, write them down. 10) The old sayings don't get to be old sayings for nothing. A heuristic, story or book that has been around for long probably has something valuable to teach you. 11) The more complex the idea, the simpler your explanation must be. Nietzsche agrees with Howard Marks: “The more abstract the truth you wish to teach, the more you need to seduce the senses to it.” 12) The world is governed by cyclical forces. Even if history doesn't always repeat, it rhymes. This is why old books will teach you as much about the future as the past. 13) Writing prompt: Reconcile two things that seem to be at odds or show the hidden fault lines between two things that seem to be compatible. The reader will feel rewarded. She might even say the seven magical words: “I never thought of it that way.”

[@DanBelsky_Health_Money_Love]

Love ❤ your video energy and story/entrepreneurial insights, would like to contact you in the near future to see if we could do a collab to profit from this YT entrepreneurship. Thank you. 🙏 Dan Belsky

[@pauljones7798]

Thank you for this video of how Howard Marks manages $190 billion.

[@calvinwinston4281]

😂.m

[@leadgenjay]

Howard's approach to writing is spot-on; simplicity really is key. For entrepreneurs looking to emulate this, remember that clear writing reflects clear thinking, which is essential in business communication. A good practice is to explain your complex business concepts as if you're talking to a friend who has no background in your industry.

[@FragranceCraft]

The elevator pitch ...

[@HireMyTimestampTalent]

00:05 The key to success is simplifying complex ideas. 03:14 Simplicity in writing through sporadic idea collection and meaningful connections 09:40 Continuous improvement is essential for perfecting ideas. 13:06 Simplicity in writing and communication is key for successful engagement. 19:15 E. Dale Saunders turned an indifferent student into a serious student and helped raise writing skills 22:42 Quality writing requires wisdom and experience. 29:12 Using visual and graphic representations to simplify complex ideas 32:23 Adversity tests true skill, not luck 38:00 Simplicity on the far side of complexity is valuable for understanding complex ideas. 41:23 Howard Marks emphasizes the importance of understanding and managing risk 47:12 Education and exposure to different schools of thought helped in reconciling conflicting investment theories 50:21 Writing should be interesting and challenging, not easily reconciled and dull.

[@henryjiang9990]

He just basically said, I'll tell you how to do it and you still can't do it.

[@luisvilla799]

So basically it’s like running like usain or playing like Messi we will never be that good

[@antoniosholomko]

😂

[@LIO-LifeInOrder]

Not can't do it but that most will not take the actions to apply what he taught

[@FragranceCraft]

In 20 years ...😊

[@FragranceCraft]

... he might be able to do it [when he has something to say with substance]

[@Achievius]

SO excited for this one. Huge fan of Howard Marks and How I Write. To see the two together is a dream come true

[@LeonGenesis]

I’ve watch many an interviews by Marks and read both of his books. This is perhaps one of my favorite sit downs.

[@LuxusHauserGroup]

"You can stay young and alive, if you're still growing." great line Howard.

[@pratikkodial5428]

Wonderful interview.. it is always a joy to listen to Howard Marks.. thank you for doing this.

[@MelchorMoore]

Thanks for doing this interview. I hadn’t heard of Marks before, but now I’m invested in getting one of his books

[@codebreaker4783]

Great interview! I haven't heard of Howard before, but his wisdom on writing was eye opening

[@sakacocox267]

He is a great thinker IMO. He ofcourse have the kind of experience in his belt that he able to answers the questions as if he is writing here. Things flows faster from his mind very clearly and vividly. Its a gem of the video to watch - about Life, about Investments, about writing, about success! I will share this podcast with my wife, not all podcasters are same :)

[@ravinagarajan989]

Outstanding interview, a must listen for all writers, especially financial writers!

[@vontaylorco]

Omg your guests are freaking mind blowing

[@vic_and_hugh]

Truth

[@DavidPerellChannel]

We have some fun ones coming up too. Interviewing Sam Altman next week.

[@abdulbahrein6618]

@@DavidPerellChannelwhere

[@abhimanyu8483]

​@@DavidPerellChannelwhen is the video coming?

[@Because_Reasons]

I just came across this KZbin, and by GOD am I so glad I did. This is THE BEST writing, thinking and life advice on the internet. NO JOKE! So effing amazing. Reminds me of PBS with Bill Moyers :)

[@themoose7149]

Love the memos and his books. I would recommend anyone to read them. Exceptional writer and thought leader in finance.

[@tedknudstrup6101]

Really really enjoy listening and reading his material. Very similar to other even keeled men, Buffet, munger, Gates. Great common sense and down to earth guys. Such a treat that I now have the opportunity and privilege to hear their wisdom. Thank you

[@kjflick]

A huge thank you for the great content. Your videos always inspire and inform. Keep up the amazing work! 👏

[@kristofferjannotario2787]

Wow! I read both of his books!

[@iAmWriting247]

Sooo excited for this!

[@kidsonelm3303]

It’s great to see how he was excited about two different things: first accounting, then writing. Seems like the latter was due to having a great professor.

[@randy74989]

In a word: Legend!

[@FLASH4516]

This podcast was digital treasure this man speaks words into gold and diamonds

[@vic_and_hugh]

Just saying what's up to all the early folks who have notifications turned on for this genius series

[@DavidPerellChannel]

Hah! Thank you

[@user-bl1fz1mf6l]

In this interview Howard Marks emphasis on the point that jargons are used to create barrier between professionals and common people. However, if we look at a broader picture jargons can help complex ideas and logics in conversations without explaining them every time. Which not only is an more efficient method but also reduces an score of misinterpretation.

[@bharathdmiriyala]

Wow! What an interview

[@vinniep237]

howard dresses like an artist - he could easily be on stage playing synths for LCD soundsystem

[@BM_100]

He has a striking resemblance to Dimitri Shostakovich, a Russian classical music composer.

[@tedabiogorman]

I feel like you don't give enough time for your questions to develop and for the speaker to give you a deep answer. At 6:38 he's talking about opportunity and seems interested in continuing to talk about it then you ask a completely different question about investment opprtunity. Keep up the hardwork!

[@marthajean50]

I agree -- there was a similar point in the discussion elsewhere, and he wasn't allowed to say more than the briefest thing before being derailed with another question. When you get a great guest like this, just let them deliver - they're great for a reason. Good show, just need to hear a bit more from the guest before changing it up.

[@bobconstantine2775]

Where are his memos posted please

[@enmarcanete468]

Glory to God For this Amazing Conversation Sir David Perell with Sir Howard ❤❤❤❤❤❤❤❤...More God's Blessings and Favor To Of you and your family..😊🙏💕👍

[@aidanleather]

Fantastic interview. Thanks!

[@azukaabrahamnduka5242]

Incredible prodigious talent

[@rohanpande5074]

Howard Marks is the most underrated investor of our time

[@troymyers4033]

Thanks,Sir!

[@user-os1qs2cz6r]

AMAZING TRUTH! He knows about lLeft brain vs. Right brain.

[@whatdis]

Pure gold

[@FxBrawler]

You are a great interviewer, David.

[@jut8146]

Great interview, not least because of the interviewer.

[@peterkortvel]

Didn’t catch where I can subscribe to his Memos. Thanks!

[@cathyjennings5580]

Interesting information....... Thanks 😊 more....

[@alexanderepifani2657]

❤

[@Premchik]

Oh God! I had just caught a huge fright when he said "Amen" at the beginning! I thought he said "Hey man" ... ))) to this man!!

[@dabig_guy2204]

Ideas that pay off.

[@Milly5288]

Great video ❤

[@booneguy]

Noted, next books will by Marks'.

[@EJBuzzella]

Excellent content, although a bit too many ads in the beginning. In the end its worth it.

[@ThinkAffluence]

Not much more of luck just have been blessed. I remember in the Bible speaks our works will not go in vain, hard work and working smart if you do it long enough the rewards will come.

[@OvaisHusain]

Glad that I found this channel.

[@ashokkt01]

Great wisdom disguised as 'how I write'. Should be transcribed and published

[@yangnatamarga8224]

nice interview, so deep yet still simple

[@CSilva-nx6go]

I'm certainly simple. Now if I could just express that more brilliantly. Haha.

[@trevorkeyser9746]

The best part of managing other people’s money! When you lose! You lose other people’s money! Never your own

[@intrametaarchi1015]

and you might not know who they are, if they exist at all 😂

[@theredflagisgreen]

You lose fees and carry when you lose their money.

[@damonblade3195]

I wonder what he thinks of Jack Welsh, the former CEO of General Electric ?

[@sheikbasha7932]

If the market crashes, what is your idea... What are your assets values....!!!!! Such a risk how you cover... any idea....

[@pobitnik]

Sometimes it feels like I live under the rock for not knowing such great thinkers of out times. Thanks for shining lights on such wise and articulate man like Howard ❤ Probably going to spend next week reading his memos trying to catch up

[@spymasterflash]

Luck IS fleeting and random: One of my biggest business failures......found me the opportunity to meet my wife. She changed my life IMMEASUABLY....more than the hundreds of millions our company was poised to make!

[@alioraqsa]

This podcast give me "AHH"!

[@DamonWright-cm8bf]

Lam Westwood AWA

[@BSamuel1874]

19:48 till 20:04 - this is magic. From accounting to Japanese. Thank you for this gem of a conversation

[@anderbeau]

Howard is amazing, the host dude is a doofus 😂

[@paulwilfridhunt]

Whilst we don’t want to be preoccupied with luck nevertheless it exists And Solomon himself says so. If we are lucky ok that’s good. Let us rejoice in it. But if we are not blessed with much luck that’s ok too. Accept it. Don’t fight it. Go with it. Be content with your destiny. Great luck isn’t necessarily a guarantee of happiness. A sense of well being is the true objective. Ecclesiastes 9:11 “I returned, and saw under the sun, that the race is not to the swift, nor the battle to the strong, neither yet bread to the wise, nor yet riches to men of understanding, nor yet favour to men of skill; but time and chance happeneth to them all.” King James Version (KJV)

[@mikahundin]

- Howard Marks is renowned for his ability to distill complicated ideas into simple, clear messages, attracting a significant audience and managing over $190 billion in assets. - Marks emphasizes the importance of striving for the highest quality output, focusing on clarity and simplicity to make complex concepts accessible. - He believes in the value of writing to convey significant, lasting principles and lessons, rather than focusing on fleeting trends or predictions. - Marks' writing process involves gathering diverse sources of inspiration, making connections, and writing when he feels inspired, rather than adhering to a strict schedule. - He prioritizes logic, clarity, and accessibility in his writing, aiming to make his memos read like spoken language and to challenge readers to learn something new.

[@jonathanyoung5276]

full of wisdom talking !

[@CompoundingwithGuyMatt]

I love Howard Marks clarity. Thanks @DavidPerellChannel for interviewing him on a subject that he’s not typically interviewed about! /G

[@DirkusTurkess]

This is the kind of Marksism I can get behind.

[@raviwelcome19]

Harward marks writes memos with intuition,

[@TalesOfTrillions]

Maybe Marks is onto something, but isn't simplifying complex ideas just dumbing down for the masses?

[@user-ke6bm2kc8g]

I prefer a genuine, non-performative interview style, with productive dialog.

[@uhadme]

If you think about the world, there is nothing in your control at all. Go save a fly, hero. Did this reject stroke his ego for 1 hour or what? Hilarious realm

[@user-ji6qj1db3u]

Thats exactly how i write but like he said. Some insecure people like to make it difficult!!

[@nicolenunes3739]

You people just never give up...

[@CSilva-nx6go]

Check your email oak tree.

[@meenusharma4961]

Mari keemat or Hindustan ki keemat nahi lga sakte maney

[@user-py2py2iu2h]

I’ve watch many an interviews by Marks and read both of his books. This is perhaps one of my favorite sit downs.