원문 보기
. Dear viewers, our channel statistics show that about 35 percent of the viewers who regularly watch our channel's videos have not yet subscribed to the channel. Please subscribe to our channel. Our channel features educational videos every day, and our channel's community posts feature either a quote from a scholar, a poll, or some question that is extremely beneficial to our viewers.
Let's move on to the main discussion of today's video. Howard Marks is a kingpin in the investment world and co-founder of Ottery Capital. Who has dominated the market for decades. In a recent talk, he condensed his lifelong investment knowledge into some basic principles that will be extremely helpful for investors in making investment decisions.
Let's explore Howard Mars' core teachings on risk value and contrarian investing skills. Before that, let's know a little about Howard Marks. Howard Marks is no ordinary investor. As we mentioned earlier, he is the cofounder of Otree Capital. Who manage more than $164 billion in hedge funds. He is famous for his memos.
Which even legendary investors like Warren Buffett read regularly. The core of his philosophy is second-level thinking, that is, looking beyond the so-called subject and finding opportunities that others miss. His book is The Most Important Thing. Very important and a must-read book for investing. Let's analyze his five powerful investment lessons.
Marx wanted to teach us that price and value are not the same thing. He says buying at a discount to intrinsic value creates a margin of safety. That is, if you can buy at a discount compared to the intrinsic value, you will get a margin of safety. If a fundamentally good company 's share price is overvalued, it is not a good investment.
According to him, you always have to ask yourself, am I paying less than what this asset is worth? This will help you have a buffer zone against market volatility. Mark's mantra at Oaktree is "If we avoid the losers, the winners take care of the damsels." In his opinion, the focus should be on risk-issuance reward.
Where your investment is more likely to go up than down. That's why OT is skilled in bonds and distressed debt. Think of a chess board. Your every move is calculated to protect your king, your capital. Then the next move is taken for checkmate. Risk control is the key to long-term success. Marx believes that it is usually only when one is behind the flock that one makes the ultimate mistake.
His rule is to be careful when others are excited or emotional. And when they are scared, you show courage. A classic example is Oaktree's purchase of junk bonds during the 2008 financial crisis. While others fled in fear. Contrarian investing means going against the herd. But this is not a matter of being careless.
This means finding out if valuable assets are being available at low prices in the market when everyone is scared. That is, when you learn to walk against the herd of sheep, that is, against the market, this is the contrarian mindset. Marx reminds us that you can't predict the future. That's what will happen tomorrow.
But you can prepare for the future. The market is unpredictable. But you can use tools like scenario analysis to turn any possibility in your favor. For example, ask yourself what would happen to my portfolio if interest rates rose by 3 percent? Plan for multiple outcomes so that you are prepared for whatever the market does.
Think of it like hitting a six in a Ludo game. You cannot control the outcome but you can take your position over time. Marx gives an analogy using the example of amateur tennis players. The player who makes the fewest mistakes wins. Investing is also a loser's game. Statistics also say that long-term returns come not from picking the next big winner.
Rather, it depends on avoiding catastrophic losses. Prepare yourself for compounding gains through discipline rather than chasing hot items. It's a matter of playing smart. It's not a glamorous thing. Now let's do all his lessons together. The framework of Mars is like a bicycle or a string of beads.
Start by buying cheaply so that there is a margin of safety. Be strict about risk control so that you can protect your capital. To find an undervalued opportunity, you have to go against the grain. Make a plan by analyzing the scenario. And stay disciplined to avoid mistakes. No single issue in this framework is isolated.
For example, if a beaded garland breaks at one point, all the beads on that garland cannot be put back together. The entire beaded garland has to be strung again. Likewise, not a single point in Mark's framework is isolated. They reinforce each other and create a powerful approach to investing. So what do we learn from Mark?
Investors will focus on fundamentally strong undervalued stocks with a margin of safety. But during the market crisis, distressed assets like Marx's in 2018 need to be found. And for traders, he says they should avoid chasing FOMO-driven rallies like the Meme East Frenzy of 2022. Look at 2020. The market went up again after the crash.
Those who bought quality assets at the bottom ignored the panic and received huge rewards. What are the takeaways from today's discussion? Quality cannot be bought at a higher price. Risk control is more important than returns. When others show courage, i.e., greed, you have to be careful, i.e., afraid.
And you have to show courage when others are afraid. Always remember that investing is a probabilistic game. Where it is not about predicting the future but about always being prepared. This wisdom from Howard Marks is not just for the stock market, but it is a blueprint for making smart decisions in any uncertain environment.
For those of you who want to take trading seriously, we are currently offering two courses. One is Momentum Master and the other is Momentum Master Pro. We would recommend the Momentum Master course for those who are completely new to technical chart analysis. And for those who already know basic level technical analysis, we would recommend the Momentum Master Pro course.
We have divided these two courses into two parts. In the first part, we will conduct regular classes on the content of the course outline. Then you go to the market and trade yourself. Then, depending on the market situation, you will come to us for a review class after a month or two. We will conduct a review class on the issues you faced during the past month or two when you traded in the market, whether you were able to trade profitably, where you made mistakes, or where you still don't understand.
That means we do n't let you go as soon as the course ends. You will be in touch with us for one to three months after the course ends, based on market contacts. That is, if the market is in a trading environment, you will be given a drink a month after completing the course, and we will call you for a review class a month later.
And if it turns out that you have completed the course but the market environment is not yet ready for trading, we will make you wait for another two to three months and then you will receive a review class. And we believe that if you follow our guidelines correctly and if you are really serious about learning, if you are willing to put in the time and effort to learn trading, then we believe that you will be successful or profitable in trading within three to six months.
If you want to join our course, email IMK Fintech School Gmail.com now and you will receive a detailed outline of the course in the email. So, without further delay, start your preparation and stay with us by subscribing to IMK Fintech School and subscribe to this channel to share our knowledge with others. Thank you, viewers. Allah is the protector.
Comments 0