scripod.com
RWH063: Avoid Disaster w/ Howard Marks

Overview

Shownote

Highlights

Transcript

Chapters

Pins

RWH063: Avoid Disaster w/ Howard Marks

We Study Billionaires - The Investor’s Podcast Network

2025/12/14
We Study Billionaires - The Investor’s Podcast Network

We Study Billionaires - The Investor’s Podcast Network

2025/12/14
OverviewShownoteHighlightsTranscriptChaptersPins

Shownote

In this episode, William Green chats with multibillionaire investor Howard Marks, the co-founder & co-Chairman of Oaktree Capital Management. Since its launch 30 years ago, the firm has grown into a global powerhouse in alternative investments, with $218 b...

Highlights

In a candid conversation with William Green, investing legend Howard Marks shares the philosophy that has guided his remarkable career at Oaktree Capital. Far from chasing glory or making flashy bets, Marks emphasizes the quiet power of discipline, humility, and strategic restraint in building lasting investment success.
03:25
Avoiding losers is more important than picking winners in investing.
19:01
Take the temperature of the market by observing investor behavior to time defensive or aggressive moves.
29:19
Bureaucracy kills idiosyncratic insight in investing.
1:00:30
AI will change the world, but most AI-investing companies will end up worthless
1:07:07
Assets like Bitcoin and gold lack intrinsic value because they don't generate cash flow.
1:16:27
The future is a probability distribution of possibilities
1:21:47
Howard Marks built a career aligned with his values, doing work he loves like his idol Warren Buffett.

Chapters

Why avoiding losses matters more than chasing big wins
00:00
When to act: reading the market’s mood for smarter decisions
13:02
How specialization and partnership create a real edge
25:39
What the dot-com bubble teaches us about today’s AI craze
44:38
Why Bitcoin and gold don’t hold real value—for him
1:03:34
How humility shapes smarter, longer-lasting investing
1:16:27
Can you have it all? Building a life beyond the portfolio
1:21:47

Transcript

William Green: You're listening to T.I.P. You're listening to the richer, wiser, happier podcast, where your host, William Green, interviews the world's greatest investors and explores how to win in markets and life. Hi, folks. I'm absolutely thrilled to w...