In this episode, William Green talks with multi-billionaire investor Howard Marks, the co-founder and co-chairman of Oaktree Capital Management. Since its launch thirty years ago, the company has grown into a global powerhouse in alternative investments, with $218 billion in assets. IN THIS EPISODE YOU’LL LEARN: 00:00:00 – Intro 00:04:01 – Why Howard Marks is committed to “steady excellence” and not turning out the lights. 00:05:59 – What investors should learn from great (and not so great) tennis players. 00:13:13 – How to determine the right “risk attitude” for your investment portfolio. 00:20:12 – How he managed to make five major market visits over the course of his career. 00:33:24 – What makes Bruce Karsh, his long-time partner, an excellent investor. 00:36:52 – How specialization can give you a powerful advantage. 00:57:53 – How the current investment climate resembles the dotcom bubble. 00:54:21 – Why Howard expects most AI companies to “end up worthless.” 00:58:55 – Why he is very hesitant about investing in Bitcoin and gold. 01:10:46 – Why bonds now seem a relatively attractive investment to him. 01:20:05 – How he reached the pinnacle without sacrificing family, friends or hobbies. Disclaimer: There may be slight differences in timestamps due to differences in podcast platform. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community for meaningful stock investing conversations with Stig, Clay, Kyle and the other members of the community. Inquire about William Green’s Richer, Wiser, Happier Masterclass. The Complete Collection of Howard Marks Memos. Howard Marks’ book The Most Important Thing Illuminates. Howard Marks’ book Mastering the Market Cycle. Charlie Ellis’s book Winning the Loser’s Game. David Swensen’s groundbreaking portfolio management. Devil Take the Hindmost by Edward Chancellor. William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book. Follow William Green on X. Related books mentioned in the podcast. Ad-free episodes on our Premium Feed. NEW TO THE SHOW? Get smarter at valuing companies in just a few minutes a week with our newsletter, The Intrinsic Value Newsletter. View our We are studying Billionaire starter Packages. Follow our official social media accounts: (Twitter). Link edIn | Inst agram | Face book | Tap Tok. Browse all our episodes (complete with transcripts) He again. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tools. Enjoy exclusive benefits from our Favorite Apps and Favorite Apps and Apps Services. Learn how to better start, manage, and grow your business with the Best Business Podcasts. SPONSORS Support our free podcast by supporting our sponsors: Simple Mining Human Rights Foundation Unchained HardBlock Linkedin Talent Solutions Public.com – view the full disclaimer here. Amazon Ads Alexa+ Shopify Vanta Onramp Abundant Mines Horizon Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
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