Howard Marks in converstion with Joel Greenblatt, Wharton School

D

dealmaker

On Value Investing: A Conversation with Joel Greenblatt W’79 WG’80


1) Follow your passion

2) Look off the beaten path

3) Give yourself margin of safety

4) Value investing is not buying low priced, rather quality asset at a substantial
discount

5) If you do good valuation market will reward you, unknown is when

6) Largest position not in investment with highest return potential but rather in
lowest loss potential

7) Learn continuously

8) To be exceptional you have to be different and you have to dare to be wrong

9) A home run investment idea was found on Yahoo message boards, developed by a grocery store employee
 
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dealmaker said:
7) Learn continuously
More...


That one was also very much among the policies of the other Howard Marks (whose first book, "Mr Nice", I purloined from my father's collection and found it to be one of the most interesting - not to mention entertaining - things I'd read). With apologies for the intrusion in the thread, I'm "just saying" ...
grinning-smiley-023.gif
 
Another square suit with various terminologies and theories. Writing a new book every five years to stay relevant and in the news, and further expand your perceived expertness within the field.

"investing secrets" sounds hilarious and useless. -- you basically Buy and Hold the S&P 500, broad index till the end of time. Because you're too dumb to gamble and win.

That guy doesn't look like an ET, extraterrestrial trader. :confused:
ET's are relatively common-looking middle-aged/young males, with a calm, square, analytical look...but a killer, aggressive, hungry, opportunistic eye.
 
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dealmaker said:
On Value Investing: A Conversation with Joel Greenblatt W’79 WG’80


1) Follow your passion

2) Look off the beaten path

3) Give yourself margin of safety

4) Value investing is not buying low priced, rather quality asset at a substantial
discount

5) If you do good valuation market will reward you, unknown is when

6) Largest position not in investment with highest return potential but rather in
lowest loss potential

7) Learn continuously

8) To be exceptional you have to be different and you have to dare to be wrong

9) A home run investment idea was found on Yahoo message boards, developed by a grocery store employee
More...
It's amazing how this useless nonsense keeps being repeated like a mantra(changing a word here or there to "sound" different from other talking heads) by these so called experts and people still applaud this crap like this general mumbo jumbo ever made anyone rich or was even useful.
You either go for it or you don't... "Being different, learning continuosly, being exceptional... etc etc" might happen during your path....But certainly not before..
The only thing you have before is a blind, obsessive faith in yourself which allows you to keep getting up after every fall.
You either have this or you don't. And even so, you may or may not be successful. Only time will tell.
But for those who have this unshakable faith in themselves, none of this matters... They just keep going forward...
 
Market cap. Market cap. Market cap. Being able to analyze the true value of a company and what the market cap *could potentially* be is where all the money is made.

Someone on here once posted some excellent trading advice "A watched pot never boils." In order to make the big money, get off the screen and let the scenario play out.
 
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