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The Most Important thing - by Howard Marks

'Uncommon Sense for the Thoughtful Investor'

Howard Marks is the Founder of Oaktree Capital Management, who hold US$122 billion in assets under management. This book is a compilation of all his investment philosophies, which can be applied to help you make better decisions when investing money, time or energy. There isn't any step-by-step instructions, just advice on ways to thinking to avoid the many pitfalls that most investors fall in. In this episode we cover:

• Second level thinking
• Understanding market efficiency,
• Understanding, recognising and controlling risk,
• Combatting the negative influences of human nature, and
• Knowing what you don't know

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