IN THIS EPISODE, YOU’LL LEARN:

• How Howard Marks invests accordingly to the market cycle.
• How Howard Marks can be fully invested, and still be cautious in an overvalued stock market.
• How to assess where we are in the market cycle.
• What Howard Marks learned from the current cycle we’re in.
• Which advice Charlie Munger had for Howard Marks about investing.

TRANSCRIPT

Disclaimer: The transcript that follows has been generated using artificial intelligence. We strive to be as accurate as possible, but minor errors and slightly off timestamps may be present due to platform differences.

Preston Pysh  0:02  

Boy, are we excited about today’s show because we have the absolute honor and pleasure to talk to billionaire Howard Marks! 

For many people in the investing community, they know Mr. Marks because of his superior performance for five decades. In fact, Mr. Marks’ performance in the distressed debt market has returned an average of 19% annually for the past 22 years. 

Back in 2008, Mr. Marks’ company, Oaktree Capital Management, raised $10.9 billion during the financial crisis making it the largest distressed debt funding history. 

Mr. Marks is the author of “The Most Important Thing,” and he also wrote a new book titled “Mastering the Market Cycle.” Without further delay, here’s our interview with the legendary billionaire Mr. Howard Marks.

Intro  0:54  

You are listening to The Investor’s Podcast, where we study the financial markets and read the books that influenced self-made billionaires the most. We keep you informed and prepared for the unexpected.

Preston Pysh  1:14  

All right, welcome to The Investor’s Podcast. I’m your host, Preston Pysh. As usual, I’m accompanied by my co-host, Stig Brodersen. Today we are joined by the legendary investor Mr. Howard Marks. 

Mr. Marks, welcome to the show.

Howard Marks  1:28  

Thank you very much. It’s a pleasure to be here with you.

HELP US OUT!

What do you love about our podcast? Here’s our guide on how you can leave a rating and review for the show. We always enjoy reading your comments and feedback!

BOOKS AND RESOURCES

• Howard Marks’ new book, Mastering The Market Cycle.
• Read Howard Marks’free memos.
• Read the Interview highlights of Howard Marks’ latest episode.

NEW TO THE SHOW?

• Check out our We Study Billionaires Starter Packs.
• Browse through all our episodes (complete with transcripts) here.
• Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.
• Enjoy exclusive perks from our favorite Apps and Services.

P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!

SPONSORS:

• Download your free audio book at Audible.
• Find the best job candidate at Ziprecruiter.
• Create original investment research with INVRS.
• Solve your long list of must-reads with Blinkist.
• Send money overseas without being short-changed with WorldFirst.

Disclosure: The Investor’s Podcast Network is an Amazon Associate. We may earn commission from qualifying purchases made through our affiliate links.

CONNECT WITH STIG

CONNECT WITH PRESTON

CONNECT WITH HOWARD

PROMOTIONS

Check out our latest offer for all TIP listeners!