The most important thing is being attentive to cycles.

Howard Marks

Investors

Howard Marks

Co-founder of Oaktree Capital and a leading distressed-debt investor. His memos, which Buffett reads first, and his book The Most Important Thing defined second-level thinking as a foundation of sound investing.

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Source: The Most Important Thing: Uncommon Sense for the Thoughtful InvestorVerified

Howard Marks's Other Quotes

Being too far ahead of your time is indistinguishable from being wrong.

You can't predict. You can prepare.

Risk means more things can happen than will happen.

To achieve superior results, you have to have an edge in either information or analysis. And the former is increasingly hard to get.

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By failing to prepare, you are preparing to fail.

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