The Most Important Thing Illuminated

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The Most Important Thing

Author : Howard Marks
Publisher : Columbia University Press
Page : 196 pages
File Size : 43,9 Mb
Release : 2011-05-01
Category : Business & Economics
ISBN : 9780231527095

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The Most Important Thing by Howard Marks Pdf

"This is that rarity, a useful book."--Warren Buffett 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 readers 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. Utilizing 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.

The Most Important Thing

Author : Howard Marks
Publisher : HarperCollins India
Page : 0 pages
File Size : 53,9 Mb
Release : 2018-08-25
Category : Business & Economics
ISBN : 9353022797

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The Most Important Thing by Howard Marks Pdf

Legendary investor Howard Marks is chairman and co-founder of Oaktree Capital Management, which has $100 billion under management. He is 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, readers can benefit from Mark's wisdom, concentrated into a single 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. Utilising 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.

The Most Important Thing

Author : Howard Marks
Publisher : Harper Collins
Page : 194 pages
File Size : 49,7 Mb
Release : 2018-08-25
Category : Business & Economics
ISBN : 9789353022808

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The Most Important Thing by Howard Marks Pdf

Legendary investor Howard Marks is chairman and co-founder of Oaktree Capital Management, which has $100 billion under management. He is 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, readers 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. Utilizing 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.

Mastering The Market Cycle

Author : Howard Marks
Publisher : HarperCollins
Page : 339 pages
File Size : 42,7 Mb
Release : 2018-10-02
Category : Business & Economics
ISBN : 9781328480569

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Mastering The Market Cycle by Howard Marks Pdf

A NEW YORK TIMES, WALL STREET JOURNAL, AND USA TODAY BESTSELLER The legendary investor shows how to identify and master the cycles that govern the markets. We all know markets rise and fall, but when should you pull out, and when should you stay in? The answer is never black or white, but is best reached through a keen understanding of the reasons behind the rhythm of cycles. Confidence about where we are in a cycle comes when you learn the patterns of ups and downs that influence not just economics, markets, and companies, but also human psychology and the investing behaviors that result. If you study past cycles, understand their origins and remain alert for the next one, you will become keenly attuned to the investment environment as it changes. You’ll be aware and prepared while others get blindsided by unexpected events or fall victim to emotions like fear and greed. By following Marks’s insights—drawn in part from his iconic memos over the years to Oaktree’s clients—you can master these recurring patterns to have the opportunity to improve your results.

Pitch the Perfect Investment

Author : Paul D. Sonkin,Paul Johnson
Publisher : John Wiley & Sons
Page : 503 pages
File Size : 42,6 Mb
Release : 2017-09-12
Category : Business & Economics
ISBN : 9781119051787

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Pitch the Perfect Investment by Paul D. Sonkin,Paul Johnson Pdf

Learn the overlooked skill that is essential to Wall Street success Pitch the Perfect Investment combines investment analysis with persuasion and sales to teach you the "soft skill" so crucial to success in the financial markets. Written by the leading authorities in investment pitching, this book shows you how to develop and exploit the essential, career-advancing skill of pitching value-creating ideas to win over clients and investors. You'll gain world-class insight into search strategy, data collection and research, securities analysis, and risk assessment and management to help you uncover the perfect opportunity; you'll then strengthen your critical thinking skills and draw on psychology, argumentation, and informal logic to craft the perfect pitch to showcase your perfect idea. The ability to effectively pitch an investment is essential to securing a job on Wall Street, where it immediately becomes a fundamental part of day-to-day business. This book gives you in-depth training along with access to complete online ancillaries and case studies so you can master the little skill that makes a big difference. It doesn't matter how great your investment ideas are if you can't convince anyone to actually invest. Ideas must come to fruition to be truly great, and this book gives you the tools and understanding you need to get it done. Persuade potential investors, clients, executives, and employers Source, analyze, value, and pitch your ideas for stocks and acquisitions Get hired, make money, expand your company, and win business Craft the perfect investment into the perfect pitch Money managers, analysts, bankers, executives, salespeople, students, and individual investors alike stand to gain massively by employing the techniques discussed here. If you're serious about success and ready to start moving up, Pitch the Perfect Investment shows you how to make it happen.

Book of Value

Author : Anurag Sharma
Publisher : Columbia University Press
Page : 359 pages
File Size : 55,8 Mb
Release : 2016-09-06
Category : Business & Economics
ISBN : 9780231541695

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Book of Value by Anurag Sharma Pdf

Financial markets are noisy and full of half-baked opinions, innuendo, and misinformation. With deep insights about investor psychology, Book of Value shows how to apply tools of business analysis to sort through the deceptions and self-deceptions in financial markets. Anurag Sharma joins philosophy with practical know-how to launch an integrated approach to building high-performance stock portfolios. Investors at all skill levels should learn to be mindful of their psychological biases so they may better frame investment choices. Book of Value teaches novices that investing is not a game of luck but a skill—and it teaches the emotional and analytical tools necessary to play it well. Intermediate investors learn how to effectively control emotions when investing and think strategically about their investment program. Advanced investors see the formalization of what they already know intuitively: that the philosopher's methods for seeking truth can be profitably applied to make smart investments. A groundbreaking guide full of lasting value, Book of Value should be on the shelf of anyone who takes investing seriously.

Value Investing

Author : James Montier
Publisher : John Wiley & Sons
Page : 420 pages
File Size : 42,8 Mb
Release : 2009-12-02
Category : Business & Economics
ISBN : 9780470683590

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Value Investing by James Montier Pdf

"As with his weekly column, James Montier's Value Investing is a must read for all students of the financial markets. In short order, Montier shreds the 'efficient market hypothesis', elucidates the pertinence of behavioral finance, and explains the crucial difference between investment process and investment outcomes. Montier makes his arguments with clear insight and spirited good humor, and then backs them up with cold hard facts. Buy this book for yourself, and for anyone you know who cares about their capital!" —Seth Klarman, President, The Baupost Group LLC The seductive elegance of classical finance theory is powerful, yet value investing requires that we reject both the precepts of modern portfolio theory (MPT) and pretty much all of its tools and techniques. In this important new book, the highly respected and controversial value investor and behavioural analyst, James Montier explains how value investing is the only tried and tested method of delivering sustainable long-term returns. James shows you why everything you learnt at business school is wrong; how to think properly about valuation and risk; how to avoid the dangers of growth investing; how to be a contrarian; how to short stocks; how to avoid value traps; how to hedge ignorance using cheap insurance. Crucially he also gives real time examples of the principles outlined in the context of the 2008/09 financial crisis. In this book James shares his tried and tested techniques and provides the latest and most cutting edge tools you will need to deploy the value approach successfully. It provides you with the tools to start thinking in a different fashion about the way in which you invest, introducing the ways of over-riding the emotional distractions that will bedevil the pursuit of a value approach and ultimately think and act differently from the herd.

Poor Charlie’s Almanack

Author : Charles T. Munger
Publisher : Stripe Press
Page : 472 pages
File Size : 52,7 Mb
Release : 2023-12-05
Category : Business & Economics
ISBN : 9781953953247

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Poor Charlie’s Almanack by Charles T. Munger Pdf

From the legendary vice-chairman of Berkshire Hathaway, lessons in investment strategy, philanthropy, and living a rational and ethical life. “Spend each day trying to be a little wiser than you were when you woke up,” Charles T. Munger advises in Poor Charlie’s Almanack. Originally published in 2005, this compendium of eleven talks delivered by the legendary Berkshire Hathaway vice-chairman between 1986 and 2007 has become a touchstone for a generation of investors and entrepreneurs seeking to absorb the enduring wit and wisdom of one of the great minds of the 20th and 21st centuries. Edited by Peter D. Kaufman, chairman and CEO of Glenair and longtime friend of Charlie Munger—whom he calls “this generation’s answer to Benjamin Franklin”—this abridged Stripe Press edition of Poor Charlie’s Almanack features a brand-new foreword by Stripe cofounder John Collison. Poor Charlie’s Almanack draws on Munger’s encyclopedic knowledge of business, finance, history, philosophy, physics, and ethics—and more besides—to introduce the latticework of mental models that underpin his rational and rigorous approach to life, learning, and decision-making. Delivered with Munger’s characteristic sharp wit and rhetorical flair, it is an essential volume for any reader seeking to go to bed a little wiser than when they woke up.

Investing

Author : Robert Hagstrom
Publisher : Columbia University Press
Page : 218 pages
File Size : 46,8 Mb
Release : 2013-01-08
Category : Business & Economics
ISBN : 9780231160100

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Investing by Robert Hagstrom Pdf

In this updated second edition, well-known investment author Hagstrom explores basic and fundamental investing concepts in a range of fields outside of economics, including physics, biology, sociology, psychology, philosophy, and literature.

Big Money Thinks Small

Author : Joel Tillinghast
Publisher : Columbia University Press
Page : 422 pages
File Size : 54,8 Mb
Release : 2017-08-15
Category : Business & Economics
ISBN : 9780231544696

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Big Money Thinks Small by Joel Tillinghast Pdf

Market mistakes to avoid: “Written for investors at all levels…[a] practical, no-nonsense guide.”—Publishers Weekly One of Money Week’s Five Best Books of the Year Investors are tempted daily by misleading or incomplete information. They may make a lucky bet, realize a sizable profit, and find themselves full of confidence. Their next high-stakes gamble might backfire, not only hitting them in the balance sheet but also taking a mental and emotional toll. Even veteran investors can be caught off guard: a news item may suddenly cause havoc for an industry they’ve invested in; crowd mentality among fellow investors may skew the market; a CEO may turn out to be unprepared to effectively guide a company. How can one stay focused in such a volatile world? If you can’t trust your past successes to plan and predict, how can you avoid risky situations in the future? Patience and methodical planning will pay far greater dividends than flashy investments. In Big Money Thinks Small, veteran fund manager Joel Tillinghast shows investors how to avoid making these mistakes. He offers a set of simple but crucial steps to successful investing, including: · Know yourself, how you arrive at decisions, and how you might be susceptible to self-deception · Make decisions based on your own expertise, and do not invest in what you don’t understand · Select only trustworthy and capable colleagues and collaborators · Learn how to identify and avoid investments with inherent flaws · Always search for bargains, and never forget that the first responsibility of an investor is to identify mispriced stocks

The Mind Illuminated

Author : Culadasa,Matthew Immergut, PhD
Publisher : Hay House, Inc
Page : 675 pages
File Size : 54,9 Mb
Release : 2017-01-03
Category : Body, Mind & Spirit
ISBN : 9781781808795

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The Mind Illuminated by Culadasa,Matthew Immergut, PhD Pdf

The Mind Illuminated is a comprehensive, accessible and - above all - effective book on meditation, providing a nuts-and-bolts stage-based system that helps all levels of meditators establish and deepen their practice. Providing step-by-step guidance for every stage of the meditation path, this uniquely comprehensive guide for a Western audience combines the wisdom from the teachings of the Buddha with the latest research in cognitive psychology and neuroscience. Clear and friendly, this in-depth practice manual builds on the nine-stage model of meditation originally articulated by the ancient Indian sage Asanga, crystallizing the entire meditative journey into 10 clearly-defined stages. The book also introduces a new and fascinating model of how the mind works, and uses illustrations and charts to help the reader work through each stage. This manual is an essential read for the beginner to the seasoned veteran of meditation.

Memo to Oaktree Clients, from Howard Marks

Author : Howard Marks
Publisher : Unknown
Page : 128 pages
File Size : 52,8 Mb
Release : 2005
Category : Investments
ISBN : 097224302X

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Memo to Oaktree Clients, from Howard Marks by Howard Marks Pdf

Memo to: Oaktree Clients is a compilation of forty-three memos written over between 1988-2005 by Howard Marks, chairman of Oaktree Capital Management, LLC , expressing the investment philosophy of Mr. Marks and his company. Taken individually they outline the principles and strategies upon which Oaktree was created; in sum, they provide an etnertaining and insightful overview of he business values and belifs which have guided Mr. Marks throughout his career.

YOU, Incorporated

Author : Ines Temple
Publisher : Nicholas Brealey
Page : 208 pages
File Size : 51,7 Mb
Release : 2018-10-30
Category : Business & Economics
ISBN : 9781473688919

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YOU, Incorporated by Ines Temple Pdf

Organized into 5 digestible chapters, You, Incorporated, Is a practical guide to career success that zeroes in on 3 essential concepts that job-seekers, career builders and career changers need to know: No Job is Forever, Employability Equals Options, and Your Career is Your Business. Written by a career transition expert who has helped thousands find their own "job utopias," readers will find a down-to-earth, accessible approach to becoming more valuable to current employers while developing long-term personal competitiveness to attract future employers and seize new opportunities!

The Five Rules for Successful Stock Investing

Author : Pat Dorsey
Publisher : John Wiley & Sons
Page : 296 pages
File Size : 48,7 Mb
Release : 2011-01-04
Category : Business & Economics
ISBN : 9781118045626

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The Five Rules for Successful Stock Investing by Pat Dorsey Pdf

The Five Rules for Successful Stock Investing "By resisting both the popular tendency to use gimmicks that oversimplify securities analysis and the academic tendency to use jargon that obfuscates common sense, Pat Dorsey has written a substantial and useful book. His methodology is sound, his examples clear, and his approach timeless." --Christopher C. Davis Portfolio Manager and Chairman, Davis Advisors Over the years, people from around the world have turned to Morningstar for strong, independent, and reliable advice. The Five Rules for Successful Stock Investing provides the kind of savvy financial guidance only a company like Morningstar could offer. Based on the philosophy that "investing should be fun, but not a game," this comprehensive guide will put even the most cautious investors back on the right track by helping them pick the right stocks, find great companies, and understand the driving forces behind different industries--without paying too much for their investments. Written by Morningstar's Director of Stock Analysis, Pat Dorsey, The Five Rules for Successful Stock Investing includes unparalleled stock research and investment strategies covering a wide range of stock-related topics. Investors will profit from such tips as: * How to dig into a financial statement and find hidden gold . . . and deception * How to find great companies that will create shareholder wealth * How to analyze every corner of the market, from banks to health care Informative and highly accessible, The Five Rules for Successful Stock Investing should be required reading for anyone looking for the right investment opportunities in today's ever-changing market.

Margin of Safety

Author : Seth A. Klarman
Publisher : Harpercollins
Page : 249 pages
File Size : 46,7 Mb
Release : 1991
Category : Business & Economics
ISBN : 0887305105

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Margin of Safety by Seth A. Klarman Pdf

Tells how to avoid investment fads, explains the basic concepts of value-investment philosophy, and offers advice on portfolio management