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The Most Important Thing Illuminated – Howard Marks

One of my latest readings have been the book “The Most Important Thing Illuminated”. I wish, I have read it a couple of years back, when i was starting to engage in the investment world. I am a big fan of Howard Marks and have been reading his quarterly news letters for quite sometime but didn’t get the opportunity to read his book so far. This time i got lucky to get my hand on  this book.

This is one of the best book, which can help you think and visualize the different aspects of investing. The part which i liked the most; The way he defines the risk in investing and to spoil the guess is not the volatility which most of us thought to believe. i would strongly recommend to read through the chapters 5-9 for all investors out there.

Those who do not know Howard Marks, He is a Co-Founder of Oaktree Capital Mgmt with AUM of USD 122bn. He is a Billionaire rank #370 in the Forbes billionaire list with his net worth reported as USD 2.2bn (Forbes). The most important thing that he is one of those investor who have pre-warned about the vanity of investors before earlier financial bubbles of 2001-02 & 2007-08.

Now probably, If you are a novice investor and just started dabbling in the world of finance with no prior knowledge of financial theories like Efficient market hypothesis, Modern Portfolio Theory, or Capital Allocation line etc. May be you wont get some part of the whole process he is navigating, though you will thoroughly enjoy the reading and the stimulation it provides to your thought process towards investing. I would strongly recommend this book to people who likes to take investing seriously either in their profession or on personal finance in equity markets specially and have the basic foundation in place.

My summary will be that to be a good Investor “You not only have to outperform the market but you have to do it more consistently. You can not do that by doing what most investors are doing and still expecting they will outperform. It is an art of buying things at a price equal to or lower than their value consistently.

Attached below is the link to help you buy it, I love amazon to make it so convenient to order your favorites on your finger tips. It is definitely helping me to buy these classics and make my own collection.

The Most Important Thing Illuminated

If you have read it, How did you like this book? I would love to know your thoughts. Also, if you are looking for any specific topic or Book, let me know if i have read it then i can share my thought on those as well.

Happy Reading & Happy Investing!

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