The Most Important Thing: Uncommon Sense for the Thoughtful Investor

Howard Marks

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April, 2011
Cloth, 200 pages, 7 line drawings, 6 tables
ISBN: 978-0-231-15368-3
$29.95 / £19.95

Introduction

The Most Important Thing Is . . .

1. Second-Level Thinking

2. Understanding Market Efficiency (and Its Limitations)

3. Value

4. The Relationship Between Price and Value

5. Understanding Risk

6. Recognizing Risk

7. Controlling Risk

8. Being Attentive to Cycles

9. Awareness of the Pendulum

10. Combating Negative Influences

11. Contrarianism

12. Finding Bargains

13. Patient Opportunism

14. Knowing What You Don’t Know

15. Having a Sense for Where We Stand

16. Appreciating the Role of Luck

17. Investing Defensively

18. Avoiding Pitfalls

19. Adding Value

20. Pulling It All Together

Related Subjects

• Business
• Finance

Series

• Columbia Business School Publishing

About the Author

Howard Marks is chairman and cofounder of Oaktree Capital Management, a Los Angeles-based investment firm with $80 billion under management. He holds a Bachelor's Degree in finance from the Wharton School and an MBA in accounting and marketing from the University of Chicago.

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