Howard Marks: "It’s not what you buy, it’s what you pay. Good investing comes from buying things well, not from buying good things, and if you don’t know the difference...then you’re probably in the wrong business." 

 

William Green speaks with Howard Marks, an investing legend and multi-billionaire. Marks is the co-founder and co-chairman of Oaktree Capital Management, a global investment giant with more than $160 billion in assets. He’s the author of two best-selling books, “The Most Important Thing” and “Mastering the Market Cycle.” His client memos have earned him renown as one of the world’s most insightful thinkers on financial markets and the art of investing. Warren Buffett has said, “When I see memos from Howard Marks in my mail, they’re the first thing I open and read. I always learn something.”