I can listen to Howard Marks all day, love the clarity with which he speaks. You can bear risk prudently, if it is: 1. risk you're aware of, 2. risk that can be analyzed 3. risk that can be diversified and 4. risk you are well paid to bear. 4th is one where Ajit Jain from Berkshire knows how to price risk!
This is closer to the reality of investing. A lecture full of wisdom, honesty and loads of intellectual humility. Howard!...Thanks for existing. Edited(27/08/22) Again, thanks for your wisdom Howard. Like Cicero once said, "gratitude is not only the greatest of all virtues, it's a parent of all the other virtues."
I've, so far, read 30 pages of his book, "Mastering the Market Cycle", and it's terrific. I highly recommend it to anyone that participates in investing and trading.
Don’t wait until the market skyrocket again then you start biting your fingers wishing you made the decision to invest. bought my third house already, earn on a monthly through passive income and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made. Great video! Thanks for sharing! Very inspiring! I love this
@Janet Soy I invest across the top markets but not by myself though. i follow the guidelines of MELISA PAMELA PEREZ . you might have heard of her.. I can correctly say she's worth her salt as a investment advisor as her diversification skills are top notch, I say this because i see that in her results as my portfolio grows by averages of 20 to 3O% on a monthly basis, unlike i can say for my IRA which has just been trudging along. my portfolio just mirrors what she place and not just on some particular industries of my choosing.she gave me that financiaI freedom I needed
@Janet Soy look her up on the internet and leave her a message she's quite popular for her services as she was recently featured on cnbc. She can work with anyone irrespective of where your located
@@samsonyin7782 This is a shocker seeing melisa pamela perez is being mentioned here. I always had mixed feelings about hiring a lnvestment advisor. For the record, I started working with melisa in 2019, and she manages about 70% of my lnvestments, while I manage the other 30%. My philosophy is that I care more about my own money than anyone else, but she made me accept that they have wealth of information on current conditions and future trends
How to think, not what to think @ 9:30, What is risk? The ultimate test of investment skill, getting return with less proportional risk, This is what diversification using index funds provides. How about adding return by reducing costs.
Great lecture. The best approach regarding to risk is to be the humblest as possible, know as much as you can about the business you are investing in. Volatility is not necessarily risky itself.
Wish he went into detail about what he buys at different points in the business cycle, when he sells and what made him pick them. Real examples are very useful.
this man's not stock guru as much as he is in debt market. but, whole lot worth to take in terms of mindset strategy. thanks for your lecture and books
I have read his book - pretty amazing how this guy knows so much about finance when he does so many drugs. His book 'Book of Dope Stories' is one of my faves of all time.
Hi….i think of cash as more of a less risk type of play. Insurance I generally think of credit default swaps, shorts, put options. Do you think he does some of this stuff?
Hi....did anyone ask, or does anyone know what type of "insurance" he is talking about for his portfolios? I would assume it's a short, put, credit default swap or something of the like. Any ideas?
At around 41:35 marks makes the fundamental mistake of saying that a random event is influenced by the results of past random events using the Russian roulette example. Maybe he misspoke?
Sorry, while I agree with you on the risk with MBS’s, it was exacerbated by Bill Clinton’s Community Reinvestment Act which forced banks to lend to unqualified people or lose their Federal Protection and it made the MBS’s legal.
When investing in the financial market you need to understand how highly volatile it is that’s why you must apply proper risk management techniques to avoid making losses and ensuring steady profits.
@@harrisclark5352 LOL tell me about it…. A while back I began trading stocks on my own and trust me the results were devastating until I met an expert who helped me recover my losses and taught me good trading strategies that actually works.
but the future is unknowable, and is always changing, so be sure this time aswell is not the time for that investment to melt. Normally lightning does not strike twice in the same place
If you want to Experience Risk open a Demo Forex account or Demo Stock account. Trade for a month or two. Then put $2-5,000 in that account and take a Trade. I promise you won’t sleep that night and win or lose by your next trade you will get a strong feeling of risk. Where will you feel risk? In your stomach. There is an old saying. Worried Money always Loses. So, at the start, take less risk and win more trades
I think risk management is to build cash position in down market. And this will force you to sell some of your winning hand to do so. And when market turns like right now, you can allocate back some of them back to build positions again at a reasonable price. The key is to find the middle ground and take advantages of the extreme ends. And in any case is to avoid the deep loss, to me that will be -20%.
SIR,Trading forex supply & demand if weekly trend is up,daily trend is up as well--then on 4 hour time frame chart one has to wait until price comes down to support level & using smaller 15 minutes chart watch that this level holds & buy.. Next step would be how this long position attacks higher supply level ON THE SAME 4H chart & only sell if forex pair turns down at this higher supply level--otherwise just hold the position on to next higher supply level ON SAME 4 HOUR CHART--any comments, modifications?
The markets have been interestingly crazy I cleared a $350,000 mortgage in 5 months literally from my stocks portfolio. But it's sad that whenever something big goes wrong, a lot of people panic and hold on to money that should be working for them. Having monitored my portfolio performance return huge six figures from the last 2 quarters, I have learned why the market will remain a money den for those who know where to look.
After I got screwed in the Tech bubble years ago I've been solely investing in real estate. But with the recent hyper home pricing I've liquidated a few things and have $1M in cash laying around idle. Would love to get your recommendations, I'm in search of something lucrative in the current crazy markets.
@@kucheranraina9201 I have my funds well diversified by using trade signals from my investment advisor Jennifer Elizabeth Boland a US registered CFA who you might have heard about or seen in the CNBC news and tbh it's been a huge relief. Highly diversified portfolio, mind blowing earnings and little to no engagement at all on my part.
@@rianosherry860 interesting..the aggressive sounds enticing but I'd love to start moderate and maybe advance to aggressive. Do you just give her your money or copy manually? I have a full time job. And what does Jennifer Elizabeth Boland charge for her services?
@@kucheranraina9201 You don't give out funds here. My account only mirrors her trades in real time that's the ideal for this system. The lady I just recommended is a renowned advisor and knows what the heck she's doing. Check her out and get in touch if you'd need help. Charges 10-5% of profit.
@@rianosherry860 My portfolio grew by 100% within 6 months. Couldn’t have put it better myself. Last year a colleague introduced me to a financial consultant Jennifer Elizabeth Boland who has been helping me find investments that have significant growth potential. She invested my money in reputable companies which their stocks must always rise after any dip.
I hold high respect for your work mate because you’re pointing people in the right direction. If there’s one thing I’ve learnt recently is to remain calm especially when it comes to investment in Cryptocurrency . If Bitcoin can sustain those levels, it seems to me that we're getting a period of some relief rallies across markets would be good. The crypto market is unstable and you can’t easily tell if it’s going bullish or bearish. While myself and colleagues are trading without fear of making losses but profits, others are being patient for the price to skyrocket, well It all depends on the pattern you follow. I was able to amass a lot of profits 11.5 btc! when i started at 4.7btc by implementing daily trade signals and strategy from Thomas Andrew.
I’m so happy earning directly to my account from my trading portfolio after knowing the secret on how to make millions from the stock and cryptocurrency markets. Stock and cryptocurrency are very lucrative.
A friend of mine who know’s the secret on how to make millions from the stock and cryptocurrency trading markets has a multi million dollar company with many employees. he is really doing well
Having monitored my portfolio performance which has made a jaw dropping $470k from just the past two quarters alone, I have learned why experienced traders make enormous returns from the seemingly unknown market.
While that is true, it is too dangerous for amateurs. The fact is that they are not able to judge whether a low quality asset is "cheap". As they are likely to misjudge (due to the Dunning-Kruger effect), they will be subjected to very high risks without being aware of them. Therefore, they will be safer if they stick to decent-to-high quality assets only.
Remember the minimun price for a stock is 0 and the most of the stocks are bad investments. Its true but most of good investors make their money in good quality assets, they are more likely to be bought and have less frecuent down side
Great stocks and I just bought in on them, but I'm interested in making short term profit, let say turn a $150K to $500k in 6months, I'd appreciate tips on how what stocks to buy to make this much profit.
pick a sector, pick companies with price to book below 1.5 , research all those companies and their projects, invest in 1s with best project that hasnt begun yet but is fully funded
How lucky are we to have access to Howard Marks rich wisdom from anywhere in the world
I can listen to Howard Marks all day, love the clarity with which he speaks. You can bear risk prudently, if it is: 1. risk you're aware of, 2. risk that can be analyzed 3. risk that can be diversified and 4. risk you are well paid to bear. 4th is one where Ajit Jain from Berkshire knows how to price risk!
This is a treasure for us, common, people. We are giving access to a timeless and valuable education, as if we are among the elite Ivy’s
Pleasure listening to Mr Marks, thank you Wharton from Toronto Canada
This is closer to the reality of investing. A lecture full of wisdom, honesty and loads of intellectual humility. Howard!...Thanks for existing.
Edited(27/08/22)
Again, thanks for your wisdom Howard. Like Cicero once said, "gratitude is not only the greatest of all virtues, it's a parent of all the other virtues."
The universe needs women in finance ;1:19:22
I've, so far, read 30 pages of his book, "Mastering the Market Cycle", and it's terrific. I highly recommend it to anyone that participates in investing and trading.
Do you know of the book
Mind OVER Markets? I have it, wondering if it is now dated due to this not being a market NOT based on Fundamentals?
Howard Marks is ungodly smart..a pleasure to listed in !
Don’t wait until the market skyrocket again then you start biting your fingers wishing you made the decision to invest. bought my third house already, earn on a monthly through passive income and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made. Great video! Thanks for sharing!
Very inspiring! I love this
@Janet Soy I invest across the top markets but not by myself though. i follow the guidelines of MELISA PAMELA PEREZ . you might have heard of her.. I can correctly say she's worth her salt as a investment advisor as her diversification skills are top notch, I say this because i see that in her results as my portfolio grows by averages of 20 to 3O% on a monthly basis, unlike i can say for my IRA which has just been trudging along. my portfolio just mirrors what she place and not just on some particular industries of my choosing.she gave me that financiaI freedom I needed
@Janet Soy look her up on the internet and leave her a message she's quite popular for her services as she was recently featured on cnbc. She can work with anyone irrespective of where your located
@@samsonyin7782 This is a shocker seeing melisa pamela perez is being mentioned here. I always had mixed feelings about hiring a lnvestment advisor. For the record, I started working with melisa in 2019, and she manages about 70% of my lnvestments, while I manage the other 30%. My philosophy is that I care more about my own money than anyone else, but she made me accept that they have wealth of information on current conditions and future trends
Melisa Penama Pérez was caught defrauding her clients, and is awaiting sentencing.
7:35 Understanding risk, recognizing risk and controlling risk
How to think, not what to think @ 9:30, What is risk? The ultimate test of investment skill, getting return with less proportional risk, This is what diversification using index funds provides. How about adding return by reducing costs.
I really enjoyed Howard Marks book - The Most Important Thing
Great lecture. The best approach regarding to risk is to be the humblest as possible, know as much as you can about the business you are investing in.
Volatility is not necessarily risky itself.
Wish he went into detail about what he buys at different points in the business cycle, when he sells and what made him pick them. Real examples are very useful.
He explain it in the book Mastering the cycle
Great presentation. Thank you for sharing!
Ive read many of your books
Thanks so much sir
Excellent presentation
this man's not stock guru as much as he is in debt market. but, whole lot worth to take in terms of mindset strategy. thanks for your lecture and books
Pure gold.
I have read his book - pretty amazing how this guy knows so much about finance when he does so many drugs. His book 'Book of Dope Stories' is one of my faves of all time.
Underrated comment
Hi….i think of cash as more of a less risk type of play. Insurance I generally think of credit default swaps, shorts, put options. Do you think he does some of this stuff?
Risk lies in the behavior of the participants rather than the activity itself.
Great video and good subject
Hi....did anyone ask, or does anyone know what type of "insurance" he is talking about for his portfolios? I would assume it's a short, put, credit default swap or something of the like. Any ideas?
The insurance is margin of safety
Hi Emanuel….but what is the specific investment or short or credit default swap? Or some other form or insurance?
@@bn7228 it means buy a gas powered lawn mower and a non powered mower for back up in case your motor blows
It could also mean holding cash, as Warren Buffet does to a great extent
This was incredible.
Thanks for this
hilarious video!
Thank you!!!
1. Beware of tail risks, embrace risk to deliver asymmetrical returns
2. Not what but how you buy
3. Subjective risk assessment over models
Compared to all wall st BSers, honesty of knowing Unknow is not just a modesty but intellect
Thanks for sharing ! Great lecture.
Great content
risk is counter-intuitive 37:40
this is indeed good
great presentation. where could i get the greate lecture?
At around 41:35 marks makes the fundamental mistake of saying that a random event is influenced by the results of past random events using the Russian roulette example. Maybe he misspoke?
No he didn't misspeak. Think. Odds of 1 out of 100 vs. 1 out of 80. Are they the same? Read a couple of statistics book.
What a legend
Sorry, while I agree with you on the risk with MBS’s, it was exacerbated by Bill Clinton’s Community Reinvestment Act which forced banks to lend to unqualified people or lose their Federal Protection and it made the MBS’s legal.
1:20:00 bonds
Believing there's no risk is the riskiest thing
Good lecture
Risk is important in investing
When investing in the financial market you need to understand how highly volatile it is that’s why you must apply proper risk management techniques to avoid making losses and ensuring steady profits.
You know most times these skills can only be rendered by an expert trader to ensure security of capital while you invest
@@harrisclark5352 LOL tell me about it…. A while back I began trading stocks on my own and trust me the results were devastating until I met an expert who helped me recover my losses and taught me good trading strategies that actually works.
@@moniquegarcelle6918 Hey , I’m tryna get into the stock market myself.
@@elliottbrown7393 I would advice personal education and have enough capital.
@@valentialuna9980 what do you mean by enough capital
Risk means more thing can happen than will happen.
It's a surprise.
54:00
Risk can only be tested out in bad times. Look for investments that has survived many bad times.
Amen
but the future is unknowable, and is always changing, so be sure this time aswell is not the time for that investment to melt. Normally lightning does not strike twice in the same place
If you want to Experience Risk open a Demo Forex account or Demo Stock account. Trade for a month or two. Then put $2-5,000 in that account and take a Trade. I promise you won’t sleep that night and win or lose by your next trade you will get a strong feeling of risk. Where will you feel risk? In your stomach. There is an old saying. Worried Money always Loses. So, at the start, take less risk and win more trades
Volatility does not equal risk
Buffett Munger: "Don't risk what you have and need in order to persue what you don't have and don't need".
👌
I think risk management is to build cash position in down market. And this will force you to sell some of your winning hand to do so. And when market turns like right now, you can allocate back some of them back to build positions again at a reasonable price. The key is to find the middle ground and take advantages of the extreme ends. And in any case is to avoid the deep loss, to me that will be -20%.
SIR,Trading forex supply & demand if weekly trend is up,daily trend is up as well--then on 4 hour time frame chart one has to wait until price comes down to support level & using smaller 15 minutes chart watch that this level holds & buy.. Next step would be how this long position attacks higher supply level ON THE SAME 4H chart & only sell if forex pair turns down at this higher supply level--otherwise just hold the position on to next higher supply level ON SAME 4 HOUR CHART--any comments, modifications?
The markets have been interestingly crazy I cleared a $350,000 mortgage in 5 months literally from my stocks portfolio. But it's sad that whenever something big goes wrong, a lot of people panic and hold on to money that should be working for them. Having monitored my portfolio performance return huge six figures from the last 2 quarters, I have learned why the market will remain a money den for those who know where to look.
After I got screwed in the Tech bubble years ago I've been solely investing in real estate. But with the recent hyper home pricing I've liquidated a few things and have $1M in cash laying around idle. Would love to get your recommendations, I'm in search of something lucrative in the current crazy markets.
@@kucheranraina9201 I have my funds well diversified by using trade signals from my investment advisor Jennifer Elizabeth Boland a US registered CFA who you might have heard about or seen in the CNBC news and tbh it's been a huge relief. Highly diversified portfolio, mind blowing earnings and little to no engagement at all on my part.
@@rianosherry860 interesting..the aggressive sounds enticing but I'd love to start moderate and maybe advance to aggressive. Do you just give her your money or copy manually? I have a full time job. And what does Jennifer Elizabeth Boland charge for her services?
@@kucheranraina9201 You don't give out funds here. My account only mirrors her trades in real time that's the ideal for this system. The lady I just recommended is a renowned advisor and knows what the heck she's doing. Check her out and get in touch if you'd need help. Charges 10-5% of profit.
@@rianosherry860 My portfolio grew by 100% within 6 months. Couldn’t have put it better myself. Last year a colleague introduced me to a financial consultant Jennifer Elizabeth Boland who has been helping me find investments that have significant growth potential. She invested my money in reputable companies which their stocks must always rise after any dip.
Try to Buy things well rather than buy good things
Investment is about asymmetry
I hold high respect for your work mate because you’re pointing people in the right direction. If there’s one thing I’ve learnt recently is to remain calm especially when it comes to investment in Cryptocurrency . If Bitcoin can sustain those levels, it seems to me that we're getting a period of some relief rallies across markets would be good. The crypto market is unstable and you can’t easily tell if it’s going bullish or bearish. While myself and colleagues are trading without fear of making losses but profits, others are being patient for the price to skyrocket, well It all depends on the pattern you follow. I was able to amass a lot of profits 11.5 btc! when i started at 4.7btc by implementing daily trade signals and strategy from Thomas Andrew.
his
I’m so happy earning directly to my account from my trading portfolio after knowing the secret on how to make millions from the stock and cryptocurrency markets. Stock and cryptocurrency are very lucrative.
A friend of mine who know’s the secret on how to make millions from the stock and cryptocurrency trading markets has a multi million dollar company with many employees. he is really doing well
I made payout of 6 figures today from my trading account using his signals and strategy.
Having monitored my portfolio performance which has made a jaw dropping $470k from just the past two quarters alone, I have learned why experienced traders make enormous returns from the seemingly unknown market.
How to think about Risk aka:
Welcome Bagholders!!! 🎉😂🤷🏼🤦🏼♂️🥂
a low quality asset can be cheap enough to be a good investment
While that is true, it is too dangerous for amateurs. The fact is that they are not able to judge whether a low quality asset is "cheap". As they are likely to misjudge (due to the Dunning-Kruger effect), they will be subjected to very high risks without being aware of them. Therefore, they will be safer if they stick to decent-to-high quality assets only.
Remember the minimun price for a stock is 0 and the most of the stocks are bad investments. Its true but most of good investors make their money in good quality assets, they are more likely to be bought and have less frecuent down side
There's a risk that there's a risk...
Max was here
Great stocks and I just bought in on them, but I'm interested in making short term profit, let say turn a $150K to $500k in 6months, I'd appreciate tips on how what stocks to buy to make this much profit.
@Samanthwalter Archie That sounds great and how do i connect with her ?
@Samanthwalter Archie Okay i just found her website and left a message for her. thanks.
pick a sector, pick companies with price to book below 1.5 , research all those companies and their projects, invest in 1s with best project that hasnt begun yet but is fully funded
Read,work,& be patient.No Gambling Only long term investment
Bro your channel is full of bots
P00
How many of you came here through soic telegram link ?
Abraham[sarahas's fartheri] //nd.D
41:00