THE MOST IMPORTANT THING SUMMARY (BY HOWARD MARKS)
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- Опубликовано: 17 июл 2024
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Why does it help you to think about tennis when investing? And will you take the red or blue pill as we reveal some investors' skill, or lack thereof? And speaking of choices, are you absolutely sure you're fishing in the right pond? These are a few of the things we will explore in the next few minutes in this top 5 takeaway summary of the masterpiece: The Most Important Thing, by the legendary investor and self-made billionaire Howard Marks. Let’s dive right in!
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📈 For my private stock portfolio & revealing insights into my investment strategy, head over to: / theswedishinvestor
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Timestamps for The Most Important Thing:
00:00 Intro
00:30 Fish in the Right Pond
03:28 Second-Level Thinking
06:26 Knowing What You Don’t Know
10:05 Blue or Red Pill?
14:53 Play to Not Lose
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My goal with this channel is to help you make more money and improve your personal finances. How to become a millionaire? There are many ways to get there - investing in the stock market, becoming a stock trader, doing real estate investing, or why not becoming an entrepreneur? But whether you are interested in how to invest in stocks or investing strategies for creating passive income with rental properties - I hope to be able to provide you with a solution (or at least an idea) here. Warren Buffett - the greatest investor of our time - says that you should fill your mind with competing ideas and then see what makes sense to you. This channel is about filling your mind with those ideas. And in the process - upgrading your money-making toolbox.
The single most important thing to me in the stock market for anyone is to “know what you own”
Great advice here. Keep it simple, buy things you understand, take some risk but don’t try to shoot the lights out!
@@LiquidityOcelotnah shoot the lights out. Go big or go home lol
New to investing, have done lots of research. I am struggling to decide what to invest in with a fair capital, thinking index funds? I am sticking to buy limits. However, getting tired of checking my phone everyday. I have cash to deploy but not sure whether to dollar-cost-average. Or go bullish on stocks I believe in. Any advice from anyone would be much appreciated.
Index funds are boring!!!
Life is so short.
Sometimes you’ve got to swing for the fences.
I think it’s best you consider consulting with an advisor for strategies and informed investing decisions. I did, just hit the coveted ~$1m mark and it’s only been 27 months. Takes out the guesswork!
A fan here since the pandemic lockdown.. while mst people then were doing movie marathons and video game marathons, I kept watching investing videos, mostly your videos!
I hope you upload new videos as frequently as you did in the previous years.
I am so excited to watch this new one!
did you take action based on the videos?
No background music is literally my favorite thing in the world
While I otherwise agree with the ideas, another reason Buffett has also since cited at one of the recent annual meetings for not owning Microsoft (essentially no matter the price, despite the company having obvious moats) is because he is both friends with Gates and the latter is or was on Berkshire's board. So if Berkshire had bought some, everybody would wonder if he'd been tipped. Which he finds too much of a distraction. Similar to their situation with Activision (which they began closing the position before the deal closed).
This. Buffett has also said that he's told his lieutenants Todd & Ted that Microsoft is the one stock that's off limits because of this perceived conflict of interest. That said, with Bill Gates off of Microsoft's board of directors as of a few years ago there was some speculation that maybe Buffett might be willing to invest in Microsoft now, since that was a big source of what he saw as a conflict of interest.
@@shadowninja6689 I meant I thought Gates might also have stepped down from Berkshire's board. Although perhaps that is seen as a weaker conflict if Gates is officially just a major holder of Microsoft but nothing more. PS I think Steve Ballmer gives hope to the rest of us that, if we assist a founder of a great idea, we too can become astronomically wealthy. :)
The Most Important Thing is easily in my top 3 best investing books of all time.
What the wise man does in the beginning, the fool does in the end
Thank you. These videos were why I subscribed. Fantastic at summarising
Great takeaways from monster of a book! "The Most Important Thing" is probably the best book about investing for a moderately experienced investor.
I think it is quite good also for beginners, it's very accessible!
Appreciate the good content.
Liked the use of the f1 clip
Woohoo! Book summary!!!
Nice book summary. Keep them coming! I look the variety in your book selections.
Thanks for the entertaining, instructive production.
Much awaited. Thanks for upload. Love from india
Thank u really great video. Much love from india.
One book recommendation for u:Zero to One by Peter Thiel
Nice, reversal signal from long time bearish / sideways trend. Back on track. 😊
Michael Burry has correctly forecasted 20 out of the last 2 economic crises.
Goldshire part is the best!
Thank you 👍👍👍
Hey, excellent videos. which software do you use to animate your videos?
Yo bro, why do you keep an eye on loomis stock? Seems nothing special. Care to elaborate? Thx for vid
You make me want to read books as well! thanks for that :)
How is your opinion on TTEC and the expectations of the insider? The situation ist bad but is it 6$ a share bad? I ask everyone. I know the company because of the 10 h swedish investor video
This book was so much better than his other book imo
Another great video, thank you so much! By the way, I will save the video and come back when Tesla stock reaches 4 digits 😃 Cheers
I love all your vids 🙌🫶
Tack ska du ha!
6:10 Transition between IA and panic sector. I inmediatly thought of Teleperformance.
Read it on a kindle and it was so good that I boght it on a physical version. Thanks for the reminder I'll read it again.
Good Sir, when you were doing your 'Picking a complete stock portfolio for 2024' video you analyzed a company named TTEC. You seemed to like the numbers and said it showed real promise. At the time it was trading around $20 /share... It has since fallen to $6. Any chance I could convince you to take another look at this business?
I like it... The fundamentals and future metrics still seem intact to me, love to know your present thoughts.
Hey man! TTEC is by far the worst performing company from that video, and unfortunately, I don't feel like I can prioritize having a more serious look at it than I did in that video because I only have miniscule % of my total capital invested in it. There are other companies which I need to focus my energy and attention to more. Sorry about that, but there are many other great companies out there that needs to be analyzed! (and perhaps I will get back to it at some point nonetheless, let's see)
@@TheSwedishInvestor Thanks, I gotcha... I appreciate the thoughtful response anyway.
The important thing is to fish where the fish are. Do you think turkey, Indonesia and South Korea markets are better than the us?
US are super expensive. Almost everything is better.😀
LULU!! I would love to know your input!!
How do you make animations?
Don’t ask this. He’ll make private feed for that too.
After ozempic everything food/drink related sanked (in my opinion too much)
It is said that old and bold Investors don't exist. I'm pretty sure venture capital funds can classify as old and bold.
How does one "adjust for luck" as mentioned around 11:43? Shouldn't superior investor comparison be based on risk-return? And note Marks doesn't define risk from volatility. He seems to rather think risk is more qualitative than quantitative.
Consider this: Alice, Bob and Charlie are playing a coin flip game where they start with 100 dollars, flip 100 coins and for each coin flip they either win 1 dollar on heads or lose 1 dollar on tails. Alice ends up with 110 dollars, Bob with 100 dollars, Charlie with 90 dollars.
Who has the better risk adjusted return? They all took the same risk, so Alice must have the best risk adjusted return and Charlie the worst. Does the fact that Alice has a better risk adjusted return mean she did a better job than the others?
Wasn’t this Buffets answer to not buying Microsoft?
„ "It just would be a mistake for Berkshire to buy Microsoft," he says, because it all comes down to appearances, and not putting the potential investment in a bad light. "There'd be a lot of people who wouldn't believe us if something good immediately happened after we bought it." „
An industry where the earnings have more or less evaporated and the stocks tanked? Perhaps the PGM value chain, from miners like Sibanye-Stillwater to recyclers like Umicore.
At a time when the future of mobility seems to be electric, but probably not that fast really, when the vehicle fleet's average age is record-high in many countries, and precisely at the moment when Russia is rapidly destocking its PGM reserves and delaying sustaining CapEx to finance its latest land grab...
Sofi, snow, nike
It's hard to criticise WB but I have to say that his portfolio was recently very exposed to Apple and in a way that offends the prudent men rule. Regarding his absence from MSFT I find it strange because he always expressed great enthusiasm for publishing (while shunning technology) but isn't MSFT a publishing company? I definitely would say so, the publish operating systems and software. But he lost money due to the internet with his investment in Washington Post. As a poster child I prefer Druckenmiller for the simple reason that he never had a down year while sporting very high yearly returns based on different investments.
Investing in what's cheap can work for people, but IMO it's a lot of work to keep up with such a strategy. An easier strategy is to find companies with the best moats that consistently grow their earnings faster than the S&P500 & have larger profit margins, determine that the things that make them grow their earnings faster & have great margins are sustainable, and then invest in these large moat companies. This strategy works long term because the #1 thing that effects a stock's long term performance is their earnings growth (or lack of it). Buying in when it was dirt cheap or a bit expensive will matter little if you hold it for over a decade and their earnings have grown significantly faster then the index's earnings.
Hey! It's a good argument for investing in quality businesses shadowninja6689. This is more the Charlie Munger, Phil Fisher and "modern" Buffett way of investing. Old Buffett, Joel Greenblatt, probably Marks and some others would opt for cheap stocks and then being more active with the portfolio.
👌
Investing in solar and green energy would be a great opportunity!
What you think about NIBE? I think when money will start to flow again and people will think more of the future then earnings will come back. Im quite deep in it but I will go deeper if I have to.
Nike is a stock that was smashed recently but will have a great future
Lots of love from Kerala.
Ivideyum numma malayalies🎉
@@roshanjoseph777 💜💜
Me too from India❤.
basically, buy trash and hope for the best.. :D
Lithium mining companies!
Fan from india
from the india slurbs
Same. He is best. Soic is also good
One sector is healthcare, specially re it's and home care for elderly people. As interest rates are high, usually hospitals and home cares have lower profits because they have debt. However, we have a aging population who will need healthcare more over time. Also, this sector has a lot of bad news, not very good looking. Now it is very low in Europe and USA. Public sector won't be able to deal with all the demand from older people in the need for specialized care (Parkinson, Alzheimer's, etc). And families are no longer such a safe net, women are working, they no longer can take care of parents. Let me know what you think! 😊😅
NIBE will recovery its earnings sooner or later. Its a buy in my opinion.
haha, I just wrote NIBE too.... I will keep buying it even if I have to sel my car for it!! :D
Only 20,000 ppl will get rich great videos dud keep up
How do you invest? Do you do it like charlie who put most capital in just 1 or 2 stocks? Or do you put capital evenly in 7 or 10 stocks?
You shouldn't diversify, you know.. it seems you are very knowledgeable..
Warren Buffett said: "diversification is for idiots. It is only for people who don't know what they're doing. But for know-something investors, it nakes very little sense to diversify."
It seems you are a very good investor, a know-something investor. You could make even bigger than 400% per decade if you have the concentrated portfolio 😊
Hey man! I currently have allocated my capital to 13 stocks, a bit more concentrated in the most important holdings than in the rest (sort of like a linear scale, where the #1 gets the most and #13 gets the least). It could definitely be possible to put the money in fewer companies but with the current approach and with the Patreon I feel the swings much more, psychologically. I think a lot of people recognize this.
So the video comes out and says that Tesla is at a pe of 100 and yet it is 50. Then it seems to dismiss it as a heard poor stock choice. Well I would suggest the exact opposite, there is every chance that the stock could 10x Ina very short amount of time. SFD, robotaxi, Optimus, battery storage. Musk is not to be underestimated…just my humble could well be wrong opinion….
lmao youre gonna get rekt on the stock market
👍
Not to sound funny... but I think your voice was used/copied for an ad on YT selling a pretend indicator
Hello
anyone holding zero xrp
knwoingly
you already failed lol
theres still time
learn Fibonacci Retracements
and then build a entry and exit plan
before even putting $1 into anything
Company: wáter intelligence plc (watr)
Not relates with IA
Boring business
EPS have grown while stock price has plunge
if yall actually tryna level up in this game
you ebtter learn The Wyckoff Method