The Most Important Thing,
by Howard Marks.
Fortunately,
this is not another book that sets out to teach readers an investment
formula, because formulas seldom work in today’s complex and competitive
world. Instead, Marks’ aim is to teach investors how to think about
investing. For many years, noted investors, including Warren Buffett,
have enjoyed the insights contained in Marks’ client memos that provide
the basis for this book. Topics such as risk, uncertainty, market
cycles, fear, greed, market efficiency and patience have been covered by
many others, but rarely with the kind of insight that culminates in a
powerful and practical investment creed. Rarer still is the investor
who would not benefit from Marks’ ability to clearly relate his
knowledge and experience. Eminently quotable and highly recommended,
don’t be surprised if you find yourself highlighting much of the book,
as we did. |

ISBN-10:
0231153686
ISBN-13:
978-0231153683
Format:
Hardback, 200pp
Pub. Date: May 2011
Publisher: Columbia University Press
"Few books on investing match
the high standards set by Howard Marks in The Most Important Thing.
It is wise, witty, and laced with historical perspective."
John Bogle
|