The Most Important Thing (Howard Marks book)


Published 2021-05-30

A book filled with seemingly sensible advice about how to beat the market. Mainly, what I took away from it is that trying to beat the market is way harder than it’s worth. Overall, I think Marks is probably too optimistic about the average investor’s ability to pull off a strategy better than just dollar-cost averaging into a low-cost index fund. Also, this book isn’t particularly practical; it won’t tell you how to allocate across asset classes or how to alter your approach based on your stage of life or your unique goals. Basically, read this book if you want to hype yourself up to try active investing. (But you shouldn’t do that without first reading a strong case for passive investing—check out A Random Walk Down Wall Street or Winning The Loser’s Game.)

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