Brad Kaellner has done some recent postings from Howard Marks and it motivated me to reread Marks’ book, “The Most Important Thing”. Thanks Brad.
We all need reminded from time to time of lessons we learned in the past. Like learning a technique in sports, we revisit a move over and over. We never get it perfect, but we constantly practice and improve. Jigoro Kano once said (the founder of Judo), “It is not important to be better than someone else but to be better than yesterday.”
“The Most Important Thing” is essential for those who desire to become better investors. While the book doesn’t provide mathematical equations for investment analysis, it discusses many topics regarding how to think about investments. Often times, we think doing something is more effective than thinking about doing something, but people who study athletics have long known that visualization of an activity is a very effective technique to improve performance.
Read Marks’ book and you’ll be well on your way to becoming better than yesterday!
“The desire for more, the fear of missing out, the tendency to compare against others, the influence of the crowd and the dream of the sure thing – these factors are near universal. Thus they have a profound collective impact on most investors and most markets. The result is mistakes, and those mistakes are frequent, wide-spread and recurring,”
-Howard Marks
