The Most Important Thing Audiobook By Howard Marks cover art

The Most Important Thing

Uncommon Sense for The Thoughtful Investor

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The Most Important Thing

By: Howard Marks
Narrated by: John FitzGibbon
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About this listen

Howard Marks, the chairman and cofounder of Oaktree Capital Management, is renowned for his insightful assessments of market opportunity and risk. After four decades spent ascending to the top of the investment management profession, he is today sought out by the world's leading value investors, and his client memos brim with insightful commentary and a time-tested, fundamental philosophy. Now for the first time, all listeners can benefit from Marks's wisdom, concentrated into a single volume that speaks to both the amateur and seasoned investor.

Informed by a lifetime of experience and study, The Most Important Thing explains the keys to successful investment and the pitfalls that can destroy capital or ruin a career. Using passages from his memos to illustrate his ideas, Marks teaches by example, detailing the development of an investment philosophy that fully acknowledges the complexities of investing and the perils of the financial world. Brilliantly applying insight to today's volatile markets, Marks offers a volume that is part memoir, part creed, with a number of broad takeaways. Marks expounds on such concepts as "second-level thinking", the price/value relationship, patient opportunism, and defensive investing. Frankly and honestly assessing his own decisions - and occasional missteps - he provides valuable lessons for critical thinking, risk assessment, and investment strategy.

Encouraging investors to be "contrarian", Marks wisely judges market cycles and achieves returns through aggressive yet measured action. Which element is the most essential? Successful investing requires thoughtful attention to many separate aspects, and each of Marks's subjects proves to be the most important thing.

Download the accompanying reference guide.©2012 Howard Marks (P)2012 Audible, Inc.
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Critic reviews

"This is that rarity, a useful book." (Warren Buffett)

Featured Article: The 20 Best Investment Audiobooks to Trade Like a Pro


Thanks to the ever-changing nature of the economy, beginners and seasoned investment professionals alike have to stay on top of their game, always looking for the little bit of knowledge that will help them remain one step ahead of the curve. Whether you’re bearish or bullish, with a large portfolio or a limited budget, these investment-focused audiobooks can provide the perspectives and lessons you need to challenge yourself and grow.

Valuable Investment Wisdom • Practical Risk Management • Engaging Narration • Accessible Financial Concepts • Fantastic Job
Highly rated for:
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Thoughtful Investor!!! How thoughtful one should be when making an investment. The book is wonderful in that it helps one shape his or her understanding of the markets in a very meaningful way. It eminently suggests ways to synchronize our heart and mind to meaningfully engage in investing and dispels any doubt that we have regarding whether it is an art that is a domain of a few or a science beyond an average investor's reach and shares with us that what is important is to try to be less wrong than to try to be more right. A great book on investing. With less reliance on empirical or existing data, the book appears contemporary and very relevant to all types of investors, whether novice or expert. A good effort by narrator who picks up the tempo in the later parts of the book. Reading with a hard copy and listening on audible was a refreshing experience and would say that its a not to be missed book for all avid investors..

A great book on Investing

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One of the greatest books on investing and trading. On level with Market Wizard series.

Found what i was looking for

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If you are looking for a great book on how you need to think and act as investor, this is it!
No fluff. No secrets. No BS. Just the skills and mindset necessary to succeed where so many fail.

Must read book for solid investment mindset

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Howard does a great job consolidating investment concepts from several thinkers and leading investors. For the lay investor, this book is helpful to bring forth several investment concepts to take into account. However, there is nothing unique in this book. There is no innovation brought to the concepts of value, finance, investing, and business.

Good Collection of Investment Concepts; Nothing Groundbreaking

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Would you consider the audio edition of The Most Important Thing to be better than the print version?

No, not at all. The narrater is a great speaker. But he sounds like Kramer on the Seinfeld commercial where he was imitating the MoviePhone guy. It's not entirely his fault. I've watched hours of interviews with Howard Mark's and he tells his stories so great, with a great Queens accent. This is one of the greatest investing books ever written, but the way it's read widdle's it down to absolute boredom.

What was one of the most memorable moments of The Most Important Thing?

Mark's adages...which are funner and more memorable to hear from Mark's himself.

Any additional comments?

The print version of this is amazing. All of his video interviews are absolutely entertaining and insightful. I may keep this just because it's a great book and the information is valuable to me.

Five Star Book, two Star Audiobook

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Great insight to investor wisdom and winners mindset for long term success. Not your typical RaRa motivational general knowledge. Great book!

Seasonal Investor Gem

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.. Is to acknowledge the timely wisdom of Howard Marks and his school of thought as a whole. You would do yourself a great service, whether an investor or not, to give this book its just dues.

The most important thing..

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This book will turn your focus to the crux of your investment decisions.. Don't hesitate to buy..

Think!!

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Some great logic expressed in a way to make new investors think deeper and more rational than the surface thoughts which lead to better decision making overall. Very thought provoking!

Logical and entertaining information

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Marks had a lot of solid insight - nothing mind-blowing - but what he chooses to focus on as essential make a lot of sense and will highly impact how I invest. Other listeners complained of the repetitiveness, but unless I'm just a slow thinker, I needed that time and rephrasing to help me incorporate that into my mental model of investing. I would read it again in a couple years to make sure I stick to these fundamentals.

Repetitive things worth repeating

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