The Rewind: It’s All a Big Mistake
Howard reflects on this memo originally published on June 20, 2012. He discusses why understanding mistakes – both your own and others’ – is key to superior investing. He’s joined by Bob O’Leary, Glo...
24 Feb 202253min
Introducing "Behind The Memo": Selling Out
Listen to the first episode of our new series Behind the Memo, in which Howard breaks down his latest memo, discussing its origins, themes and key insights. In Selling Out, published on January 13, 20...
21 Jan 202232min
Selling Out
Howard Marks’s latest memo considers one of investing’s most fundamental questions: when to sell. Howard explains that it’s foolish to sell because prices are up and because they’re down – and why, mo...
13 Jan 202235min
The Rewind: Uncertainty
Howard reflects on this memo originally published on May 11, 2020. Writing near the beginning of the Covid-19 crisis, he discusses the power of saying “I don’t know” and the danger of confirmation bi...
20 Des 20211h 1min
The Winds of Change
The last 20 months have taught us to question everything. What is the future of work? Can American democracy survive? Will Baby Boomers keep consuming more than their fair share? And what comes after ...
30 Nov 20211h 2min
The Rewind: What Does The Market Know?
Howard reflects on this memo originally published on January 19, 2016. In the second episode of a two-part series, he discusses the problems with taking advice from the market. But he also draws on in...
7 Okt 202152min
The Rewind: On The Couch
Howard reflects on this memo originally published on January 14, 2016. In the first of a two-part series, he analyzes investors’ irrationality and discusses why things that are obvious in investing ar...
30 Sep 20211h 13min
The Rewind: Us and Them
Howard reflects on this memo originally published on May 7, 2004. In a discussion that namechecks both psychologist Amos Tversky and tennis great Pete Sampras, Howard explains why too much confidence ...
26 Aug 202143min
