作者:
Howard Marks 出版社: Columbia University Press 副标题: Uncommon Sense for the Thoughtful Investor 出版年: 2013-1-29 页数: 224 定价: GBP 24.00 装帧: Hardcover ISBN: 9780231162845
Howard Marks's The Most Important Thing distilled the investing insight of his celebrated client memos into a single volume and, for the first time, made his time-tested philosophy available to general readers. In this edition, Marks's wisdom is joined by the comments, insights, and counterpoints of four renowned investors and investment educators: Christopher C. Davis (Davis ...
Howard Marks's The Most Important Thing distilled the investing insight of his celebrated client memos into a single volume and, for the first time, made his time-tested philosophy available to general readers. In this edition, Marks's wisdom is joined by the comments, insights, and counterpoints of four renowned investors and investment educators: Christopher C. Davis (Davis Funds), Joel Greenblatt (Gotham Capital), Paul Johnson (Nicusa Capital), and Seth A. Klarman (Baupost Group). These experts lend insight into such concepts as "second-level thinking," the price/value relationship, patient opportunism, and defensive investing. Marks also adds his own annotations, expanding on his book's original themes and issues. A new chapter addresses the importance of reasonable expectations, and a foreword by Bruce C. Greenwald, called "a guru to Wall Street's gurus" by the New York Times, speaks on value investing, productivity, and the economics of information. *** Howard Marks, the chairman and cofounder of Oaktree Capital Management, is renowned for his insightful assessments of market opportunity and risk. After four decades spent ascending to the top of the investment management profession, he is today sought out by the world's leading value investors, and his client memos brim with insightful commentary and a time-tested, fundamental philosophy. Now for the first time, all readers can benefit from Marks's wisdom, concentrated into a single volume that speaks to both the amateur and seasoned investor. Informed by a lifetime of experience and study, The Most Important Thing explains the keys to successful investment and the pitfalls that can destroy capital or ruin a career. Utilizing passages from his memos to illustrate his ideas, Marks teaches by example, detailing the development of an investment philosophy that fully acknowledges the complexities of investing and the perils of the financial world. Brilliantly applying insight to today's volatile markets, Marks offers a volume that is part memoir, part creed, with a number of broad takeaways. Marks expounds on such concepts as "second-level thinking," the price/value relationship, patient opportunism, and defensive investing. Frankly and honestly assessing his own decisions--and occasional missteps--he provides valuable lessons for critical thinking, risk assessment, and investment strategy. Encouraging investors to be "contrarian," Marks wisely judges market cycles and achieves returns through aggressive yet measured action. Which element is the most essential? Successful investing requires thoughtful attention to many separate aspects, and each of Marks's subjects proves to be the most important thing. "This is that rarity, a useful book."--Warren Buffett
The Most Important Thing Illuminated的创作者
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总部位于洛杉矶的橡树资本管理有限公司（Oaktree Capital Management）主席与共同创始人，管理着800亿美元的投资公司资产，沃顿商学院金融学士，芝加哥大学会计与市场营销专业MBA。他投身顶级投资管理行业40年，跻身世界顶尖价值投资者之列。他的客户备忘录充满了富有洞察力的评论与久经考验的基本投资理念。如今，马克斯首次面向业余投资者和专业投资者，将其智慧集结成书，使广大读者从中获益。
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2 有用 Ray 2017-10-31 11:25:21
这本书其实可以和Graham 的The intelligent investor 呼应一下，改称The defensive investor. 如果相对获取高回报以及承担其伴随的风险，你更关心如何降低损失，强烈推荐这本书。可以先看最后一章，对书的结构有个大致的概念。
0 有用 royalasshole 2014-10-11 11:33:03
中文看了两遍，英文又看了一遍
0 有用 魔侧河 2023-01-31 10:08:13 上海
不错，但总感觉没有那么那么好，提供了看问题的角度（虽然很多内容在中文互联网上已经有人说过很多遍），只是点到即止，四星半吧。
0 有用 Nate_lk 2021-11-23 15:36:30
4.5 的确有不知道和没想过的角度，慢慢消化和在实践中感受一下。说不定回来再看觉得这本书越来越香lol。减分在重复/反复强调上。
0 有用 宝宝TWO 2016-06-28 14:34:31
他们这波价值投资者，是有自己的投资哲学的，但是不够深，当然，能够很好地执行那个哲学，一定是可以在投资中盈利的。我的意思也不是说哲学思辨越深刻，利润率就越高。 本书中的周期这一章，是精化所在。