Money and Finance
- Howard Marks On The Biggest Investing Errors
From The Most Important Thing:The desire for more, the fear of missing out, the tendency to compare against others, the influence of the crowd and the dream of the sure thing— these factors are near universal. Thus they have a profound collective impact...
- Seneca Quote (solitude And The Crowd)
“Furthermore, we should often withdraw into ourselves; for mixing with persons of dissimilar natures throws into disorder our settled composure and wakens our passions anew, exacerbating whatever is weak in the mind and not properly healed. It is, however,...
- Excerpt From The Most Important Thing Illuminated - By Howard Marks
Combating Negative Influences By Howard Marks, Author of The Most Important Thing Illuminated: Uncommon Sense for the Thoughtful Investor People who might be perfectly happy with their lot in isolation become miserable when they see others do better....
- Nassim Taleb's Foreward To "lecturing Birds On Flying"
From a couple of years ago. January 2009: I am at the World Economic Forum in Davos, looking at the sorry crowd of businessmen, journalists, and bankers. There are also a few finance academics. Many practitioners look like they have just fallen off a...
- The “i Don’t Know” School Of Investing
From Howard Marks’ July 2003 Memo (“The Most Important Thing”): One thing each market participant has to decide is whether he (or she) does or does not believe in the ability to see into the future: the “I know” school versus the “I don’t...
Money and Finance
Howard Marks quote on contrarianism
From The Most Important Thing:
…it’s not enough to bet against the crowd. Given the difficulties associated with contrarianism just mentioned, the potentially profitable recognition of divergences from consensus thinking must be based on reason and analysis. You must do things not just because they’re the opposite of what the crowd is doing, but because you know why the crowd is wrong. Only then will you be able to hold firmly to your views and perhaps buy more as your positions take on the appearance of mistakes and as losses accrue rather than gains.
- Howard Marks On The Biggest Investing Errors
From The Most Important Thing:The desire for more, the fear of missing out, the tendency to compare against others, the influence of the crowd and the dream of the sure thing— these factors are near universal. Thus they have a profound collective impact...
- Seneca Quote (solitude And The Crowd)
“Furthermore, we should often withdraw into ourselves; for mixing with persons of dissimilar natures throws into disorder our settled composure and wakens our passions anew, exacerbating whatever is weak in the mind and not properly healed. It is, however,...
- Excerpt From The Most Important Thing Illuminated - By Howard Marks
Combating Negative Influences By Howard Marks, Author of The Most Important Thing Illuminated: Uncommon Sense for the Thoughtful Investor People who might be perfectly happy with their lot in isolation become miserable when they see others do better....
- Nassim Taleb's Foreward To "lecturing Birds On Flying"
From a couple of years ago. January 2009: I am at the World Economic Forum in Davos, looking at the sorry crowd of businessmen, journalists, and bankers. There are also a few finance academics. Many practitioners look like they have just fallen off a...
- The “i Don’t Know” School Of Investing
From Howard Marks’ July 2003 Memo (“The Most Important Thing”): One thing each market participant has to decide is whether he (or she) does or does not believe in the ability to see into the future: the “I know” school versus the “I don’t...