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Hello, hello, investors in the world of investing, there are some names whom other investors consider as gurus and their investment principles and strategies are followed very strictly. Some of such names include Benjamin Graham, Warren Buffett, Howard Marks and Peter Lynch. If I talk about Indian investors, then it includes names like Rakesh Jhunjhunwala, Ratan Tata, Radhakrishnan Dani and Vijay Kedia.
So in today's video, we will talk about Howard Marks' investing philosophy. Before discussing Marks' investing philosophy, let's learn some interesting things about him. So let's start. Howard Marks is a very successful investor and writer. He is also the co-founder and co-chairman of the tree-based company Lottery Capital Management.
In his books, 220: The Important Thing and Mastering This Market Cycle, he has talked about his woolen clothes. Both books are very popular in the investing community. If you want to read these stocks, you can access them by clicking on the link in the description. But Marks is quite popular with his members.
In these matters, he talks about his investment strategies and his views on the economy. Marks' approach is different from others and investors. The biggest reason for his success is his unique investing philosophy and second-level thinking, which we will discuss later. So, let's now talk about But Marks' investing philosophy.
The first ruler of Rule Number One/Third matches what he said, which is: Buy one, most people are selling, and sell one, most popular bank. This means that when all investors in the stock market are buying stocks out of greed, you should sell your stocks. And when all investors are selling stocks, you should buy stocks.
To do this, you will have to absorb both other investors and the market very well to see what they are doing. You need to be very patient to find out what is wrong with other investors or what mistakes they are making. For this, you will have to work with a lot of patience. Forward Marks is telling that many investors do not know the actual price or intrinsic value of the stock and they get trapped by buying stocks at a high or wrong validation.
In such a situation, it is very important for you to know the correct value of a stock. Many investors, under market pressure, buy stocks at a much higher price than their actual price. Let us understand this point with an example. If many investors are very positive about a stock, that is, they feel that that company or stock is going to do very well in futures, due to which the demand for that stock increases and the price of that stock increases in anticipation of its good performance, due to which it goes much above its actual price, that is, intrinsic value.
In such a situation, taking that stock is not a good decision. The stock value has increased only due to the high demand of investors, whereas in reality, the truth is something else. In the recent past, people During the pandemic, the share prices of food manufacturing companies like Hindustan Unilever, ITC, and Sleek were skyrocketing to very high values because investors believed that people would consume more food as they stayed at home.
However, in reality, food demand had fallen significantly because most restaurants and hotels were closed, which had a negative impact on their sales. Within a few days, those stocks returned to their original prices. In this role, you should always remember to buy everybody and sell and sell everybody else's bank.
Now we will talk about the second rule. The second rule is very important and one such rule, which is very popular with Robert Marks, is second-level thinking. So let's understand what is meant by second-level thinking and how you can apply it during your investing career. So, let's understand that second-level thinking is based on two labels of thinking: first-level thinking, and second-level thinking is possible thinking.
It is very easy to do and after doing it, we will be very successful. We quickly reach a decision and form an opinion. In possible thinking, people look at the surface and make a decision without thinking about how to solve the problems that will arise after making that decision. This level thinking helps us find things that are very simple and easy.
Therefore, anyone can do first-level thinking. Investing is a very complex process; in this, you have to look at many factors simultaneously and also make many kinds of analyses. So, investing using first-level thinking is not good for your capital. If we talk about second- level thinking, it is deep-level thinking in which, before coming to a conclusion, you also consider solutions to every possible problem that may arise due to that decision.
You repeatedly ask yourself questions so that you can get to the root of the problem and understand it better. Second-level thinking is a deeper and more difficult approach. This is why most investors fail to do it. Our own minds are also structured in such a way that they look for easy solutions so they don't have to work too hard.
Let's understand this second- level thinking with a real-life example: Just a few days after Modi announced Lokpal, the stocks of food manufacturers and pharmaceutical companies rose sharply. Why did this happen? It wasn't that the companies' profits doubled as people became unaware. This was due to the first-order thinking of many investors.
They felt that with people staying home, they would firstly consume more and secondly, due to the fear of coronavirus, the sale of medicines would also increase. It is very easy to draw any conclusion in first-level thinking, and this is exactly what happened because in this, you don't think deeply about things and only think superficially.
Because of this, no investor can do first-level thinking. Investors who bought shares of food manufacturers and pharmaceutical companies at high prices made substantial profits. People had to face the heat because within a few days the truckload of investments fell back. While some experienced investors who use second-level thinking in their investments invested in sectors that were actually going to grow in the future due to the combination, which investors with first-level thinking could not imagine.
Some of them were companies related to digital media like Zia Entertainment Network Pakistan Media Ventures and companies related to the education industry like Juice and IT i.e. Information Technology companies that directly generate their revenue like TCS, Tata Consultancy Services and Infosys and online transaction companies like Teams and then Amazon.
As you all have seen, people will see in the coming years that the growth potential of the company is very high and the company is moving towards digitalization. I hope you have a good understanding of Singh. Now I will tell you how you can use Singh while making your investments. Subscribe to questions on things when you ask the right questions.
So, you get to know about many such things and matters which are not possible in first level thinking. This flesh and blood means that whenever you reach a confusion, question it. Ask yourself again and again, what will happen next? What will happen next? And keep doing this until you find a solution to every possible problem arising from that decision.
Be sure to check the source of your information, where is the information from which you are taking decisions. Many times, due to wrong news in the market, we take rash decisions, due to which you have to suffer losses. In this entire process, you will cover every panel of the problem, which will reduce the chances of your making a mistake.
The second step which you can use in applying Channel Thank You is to involve more experienced investors than you in your Dish Daily process. This happens many times with investors or with any normal person, that when They get stuck in a problem and ca n't see any way forward or solution. In such a situation, talking to another experienced person who has already gone through the situation or seeing the problem from a different angle or perspective allows them to solve it.
In this way, the perspective of looking at the problem changes, leading to a solution. So, if you're stuck at the first level and can't see any solution ahead, you can seek help from experienced investors and get out of such a situation so that you can find a solution. Now let's talk about subscription.
If you use the problem to think, it's not necessary that you will benefit from the decision immediately. After making a decision using second-level thinking, it will often happen that you may not benefit much from that decision initially. But you should take a long-term view and consider different time frames, such as You might be confused about your decision in one year, five years, or even 10 years.
For example, if you're considering investing in any stock or technology, you should consider its future prospects in one year or ten years. You shouldn't assume that the stock will be the same in ten years as it is today. You shouldn't assume that the stock will perform exceptionally well. You should invest in that stock by taking a well-rounded approach and thinking long-term.
Most companies grow the most in these times, such as Facebook, Amazon, or Reliance FD. In such a situation, you should invest with a long-term approach. Now let's talk about the first step: practice. Many investors use first-level thinking and become accustomed to making quick decisions. In such a situation, it's difficult to deeply understand the problem and consider every possible solution.
However, if you want to become a successful investor, all the steps of second-level thinking will be very useful. You have to learn them gradually, with practice, which is a difficult task in itself. So friends, these were four tips for applying Howard Marks' second rule, second-level thinking. So, let's now talk about Howard Marks' rule number three, which is patience.
Patience is a very important quality in every person, and this quality becomes even more important when investing. Most investors want to become Ganpati in a very short time. They want that if they buy a stock today, they can earn returns of 25 to 30 percent or even more in a few days. While this is foolish thinking, if you are lucky, it might happen to you, but doing this regularly for a long time is impossible.
So, in such a situation, you have to act with great patience and perseverance. Stock markets can remain very expensive or overpriced for a very long time. It is also possible that the market remains undervalued for a very long time. This could even happen for years. So, in such times, patience is the key.
What kind of skill can you use to buy or sell stocks at the right time? For example, during the 2008 financial crisis, the stock market was undervalued, which was a great opportunity to buy stocks, and they continued to rise for several years after that. So, you need to wait for the right time and develop a long-term strategy to generate good returns.
Let's now discuss role number four: Don't Like Quality, Airtel Price, Water Level. Investors are willing to pay any price for a company's stock based solely on its brand value. They believe that buying a good company with a high brand value or a very popular stock at any price makes their investment unprofitable.
However, this is not the case at all. Along with quality, it is also very important for investors to consider the value of the company. There are two advantages to acquiring a company's stock at a price lower than its actual value. The first advantage is that whenever the stock recovers and moves upwards, investors are more likely to be interested in the stock.
If you buy it at a good price, your profit will be higher than other investments. Another advantage is that even if the stock goes down, you won't suffer much loss. We can't call any investment good or bad unless we know the price at which we're making that investment. If we get the stock of a very good company at a very high price, it's not a good investment.
No matter how good the company is, if you get the stock of the same company at a good price, it's a good investment that can help you earn a profit. Investing doesn't just mean buying good things, but buying good things at a good price. Let's now talk about the board's roll number 5 marks. It's very important to have accounting skills, which you should know about subscriptions and how to earn money from subscriptions.
If you're investing with a simple approach, you wo n't be a successful investor. Investing is a very complex game. First of all, you have to accept that many people call it simple, whereas This is not the case at all. To generate good returns, you have to think differently. You have to think better than other investors.
If you think like the crowd, you will only be able to collect average returns. You have to observe when other investors are not able to think differently or better. You can do this only if you are not a part of that crowd. You just have to think differently from the crowd because you always have to go against them.
You have to identify when other investors are wrong and you are right, and when you are wrong and other investors are right. Only then will you be able to use your investment philosophy or strategy effectively and will have complete confidence in yourself even in difficult situations. You have to make these observations with the help of proper reasoning and analysis.
But Marx says that investing is a job in which you have to catch a falling grain, but very carefully and calmly. So investors, this is Marx's final investing routine, which he himself follows while investing. So if you too want to be a successful investor If you want to become one, then you will have to learn these rules well and apply them so that you can grow your money well and make good investments in the future.
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