“There They Go Again…Again” by Howard Marks

I don’t advise on investments. I’m just not that good at it. I believe in sticking to what you’re good at, and getting very good at it. When an investor with a successful career spanning several decades receives praise from Warren Buffet, I consider what they have to say.

If you’re only going to read one article on investment this year (or next year) this memo from Howard Marks should be it. There are some universal investment truths which are (almost) as timeless and ubiquitous as the laws of physics. Marks reminds us of these fundamentals while giving them current contextual relevance, and commenting on trends like ‘FAANGS’ and digital currencies like Ether and Bitcoin.

Enjoy and remember the fundamentals. Ultimately, if you’re like me, you’ll defer to the specialists. A little knowledge…

“We may not know where we’re going, but we sure as heck ought to know where we stand.” Howard Marks