You can't predict. You can prepare.
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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Howard Marks's Other Quotes
Being too far ahead of your time is indistinguishable from being wrong.
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.
The most important thing is being attentive to cycles.
Related Quotes
Know what you own, and know why you own it.
-- Peter Lynch
Invest in what you know.
-- Peter Lynch
In this business, if you're good, you're right six times out of ten. You're never going to be right nine times out of ten.
-- Peter Lynch
Risk means more things can happen than will happen.
-- Howard Marks
The most important thing is being attentive to cycles.
-- Howard Marks
The most important investment decision you will make is how to allocate your assets.
-- David F. Swensen