Reading List · Book
The Most Important Thing
Howard Marks distills decades of Oaktree Capital memos into a framework for superior investing built on 'second-level thinking' — understanding not just what will happen, but what the consensus expects and how reality will differ. He argues that risk management, not return maximization, is the foundation of investment success. The book's treatment of market cycles and investor psychology is considered essential reading at top funds.
As an Amazon Associate, Oxford Ledge earns from qualifying purchases.
Continue to source