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
Thinking About Macro
Howard Marks doesn’t make bets on economic predictions. That’s especially true now when the biggest wildcard is inflation – a phenomenon no one fully understands. But just because something is unknowa...
30 Juli 202150min
The Rewind: It Is What It Is
Howard reflects on this memo originally published on March 27, 2006. In this wide-ranging discussion, he weaves together the Japanese concept of mujo, probability theory and the Super Bowl to suggest ...
24 Juni 202143min
The Rewind: Dare to Be Great II
Howard reflects on this memo originally published on April 8, 2014. In the second episode of a two-part series, he asks whether investors are willing to do what is necessary in order to be great – inc...
5 Maj 202145min
The Rewind: Dare to Be Great
Howard reflects on this memo originally published on September 7, 2006. In the first episode of a two-part series, he offers suggestions to those daring to be superior investors. There are no formulas...
29 Apr 202154min
2020 in Review
Last year featured a jaw-dropping list of extremes, from a once-in-a-century pandemic to record-breaking market moves. Howard Marks writes in his latest memo about approaching the investment environme...
19 Mars 202131min
The Rewind: You Can’t Predict. You Can Prepare.
Howard looks back on this memo, originally published on November 20, 2001. The title was inspired by a TV commercial tagline from that time: “It's almost a Yogi Berra type statement that makes no appa...
24 Feb 202152min
Something of Value
The dichotomy of “value” and “growth” investing has become a sharp stylistic divide. But is it helpful? In his latest memo, Howard Marks discusses how he views the art and science of value investing, ...
14 Jan 20211h 3min
