Howard Marks is the founder of Oaktree Capital Management, which is one of the most successful, distressed and high-yield hedge funds. In this book, he discusses the most important items to remember when investing your money. Rather than focusing on mathematical models or financial jargon like so many of his peers, Marks breaks down core concepts using easy to digest language and examples. This is the sign of a true expert – somebody who can cut through the noise and teach you the essentials rather than confuse the matter with unnecessary jargon, over-complicated and irrelevant language. He outlines twenty key lessons to be successful at investing, including second level thinking, market efficiency, value, the relationship between price and value, risk, investment cycles, contrarianism and how to avoid pitfalls.
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