Howard Stanley Marks (born April 23, 1946) is an American investor and writer. He is the co-founder and co-chairman of Oaktree Capital Management, one of the world's largest investors in distressed securities with over $150 billion in assets under management. Marks is renowned for his insightful memos to clients, which have been published since 1990 and are widely read in...
"The biggest investing errors come not from factors that are informational or analytical, but from those that are psychological. Emotion is the great enemy of good investing."
Psychology causes more investment errors than analysis.
Read Full Analysis →"Unconventionality is required for superior investment results. You can't do the same things others do and expect to outperform. Comfortable investing is rarely profitable."
Outperformance requires uncomfortable, unconventional thinking.
Read Full Analysis →"The biggest investing errors come from psychological factors - greed, fear, envy, ego, and the desire to conform."
Psychology drives most investment mistakes, not analytical errors
Read Full Analysis →Howard Marks has 3 key principles on investment psychology. The most important one is "Emotion is the Enemy" — The biggest investing errors come not from factors that are informational or analytical, but from those that are psychological.
Howard Marks applies investment psychology through several key principles including "Emotion is the Enemy" and "Consensus is Comfortable". These principles guide practical investment decisions and have been tested across decades of market cycles.
Howard Marks's approach to investment psychology is distinguished by a focus on long-term thinking and fundamental analysis. With 3 specific principles in this area, Howard Marks provides a comprehensive framework that investors at any level can study and apply to improve their decision-making.
