Howard Marks - Latest Thinking, Spotting Patterns, and Understanding Risk

EPISODE PAGE: https://whatgotyouthere.com/234-howard-marks-latest-thinking-spotting-patterns-and-understanding-risk/ Howard Marks is co-chairman and co-founder of Oaktree Capital Management, a leading investment firm with more than $140 billion in assets under management. Howard is a legendary value investor and has shaped Sean’s thinking on investing and life through his books and Memo’s that Warren Buffett has said, “When I see memos from Howard Marks in my mail, they’re the first thing I open and read. I always learn something.” On this episode Howard shares his philosophy on spotting patterns, risk, learning, developing a great partnership and firm, being a contrarian, why he’s changing his investment style after 50 years and so much more! EPISODE TIMELINE: 2:03 Standing Out From The Herd 4:30 Howard’s Competitive Advantage 8:45 Pattern Recognition 13:03 Howard’s Various Career Interests 14:16 The Beginning of Howard’s Career 21:46 Lessons from Third Thursday Group 26:09 Being Right Too Early 31:07 The Decision Howard is Most Proud Of 36:51 Influences on Howard’s Investing 39:30 Know Thyself in Investing 41:24 Familial Differences in Investing 48:10 Living Life Your Way 51:08 Self Belief at Oaktree Capital 58:55 Howard’s Memos 1:04:28 Howard’s Book Recommendations 1:06:41 Howard’s First Choice Pick To Interview