About the book
Howard Marks, chairman and cofounder of Oaktree Capital Management, first gathered the investing philosophy of his client memos into The Most Important Thing. This annotated edition adds comments and counterpoints from four investors and teachers of investing: Seth A. Klarman of Baupost Group, Joel Greenblatt of Gotham Capital, Christopher C. Davis of Davis Funds and Paul Johnson of Nicusa Capital. Their notes take up second-level thinking, the link between price and value, patient opportunism and defensive investing. Marks contributes annotations of his own and a new chapter on reasonable expectations, while Bruce C. Greenwald writes a foreword on value investing and the economics of information. It is written for amateur and seasoned investors alike.
Warren Buffett described it as that rare thing, a book of real use. Space Jam Data co-founder Henry Medine said he returns to its questions and its method for second-level thinking each time he weighs an investment.
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This book has 2 recommendations
Warren Buffett (CEO/Berkshire Hathaway)
This is that rarity, a useful book.
Henry Medine (Co-Founder/Space Jam Data)
Whenever I am assessing an investment decision I refer to Howard Marks (Oaktree Capital Management) The Most Important Thing: Uncommon Sense for the Thoughtful Investor. He lays out explicit techniques for reaching second level thinking and outlines particular questions any investor should ask themselves before making an investment decision. I paraphrased the lessons I found most useful and refer to them whenever I am looking at an investment opportunity.
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- 18 Book Recommendations From Billionaire Warren Buffett
- Henry Medine, Co-Founder of Space Jam Data, Talks About His Favorite Books