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Hey everyone, this is André Cadore speaking, and this is "About Money." Before we start the video, I'd like to ask for your like and subscription to the channel if you haven't already. In this video, the investor we'll be talking about is Howard Marx. Marx is the vice president and one of the founding partners of U.K.T.R., an American asset management company.
U.K.T.R. is the largest investor in venture capital in the world, according to Forbes' 2021 list. Howard Marx ranked 1517th among the world's richest people, possessing a fortune of approximately $2.1 billion. He is a native of New York City, USA, and graduated in economics from the University of Pennsylvania at the age of 23.
He obtained an MBA in marketing business from the University of Chicago due to his academic excellence, winning the George Marx Award in 1969. He began working at the investment bank CITY Corp, where he remained until the mid-1980s. At his current company, he is a research analyst, director of research, and senior vice president of portfolio management.
Also at CITY Corp, he was responsible for, alongside fellow investor B.R.B. He structured the first distressed asset fund at a large financial institution in 1985. After leaving Citicorp, he joined the TCW Group team, leading the group responsible for investments in high- risk securities and convertible bonds.
Later, Marx served as president of TCW. In 1995, alongside Anchor and other TCW alumni, he founded Alckmin. From the beginning, the company stood out in high-yield bonds and distressed debt funds; the latter were responsible for raising over $10 billion during the 2008 financial crisis. In 2012, Marx's company went public on the New York Stock Exchange, raising approximately $380 million.
In March 2019, Brooks announced the purchase of most of the team for $4.7 billion. Howard Marx is also Chairman of the Board of Royal Dry Room. In addition to his books, he is also known for his reports on the financial market, known as "Memos for Clients of Three," one of his characteristics being his direct and precise style of commentary.
As a philanthropist, Marx created scholarships and became a member of the New York Society of Secrets. He analyzed the investment committees of the Metropolitan Museum of Art and the University of Delaware's board. Becoming a billionaire like Howard Marx may not be an easy task, but it's certainly not impossible.
Several other great investors have followed his path. When it comes to the financial market and investment crises, you can be sure that Howard Marx masters the subject. It's no wonder that the media and investors, including Warren Buffett himself, listen to what the founding partner of Alcktree has to say.
In addition to his published books and various available interviews, Howard Marx publishes a report on the market called "Octree Memoirs," and through this we can learn a little more about his strategies. The lesson that the mega- investor teaches is the importance of understanding which phase of the cycle you are in at the moment and understanding that there are several types of cycles that always move in one extreme or the other, that is, it is necessary to operate with more creativity and not only using the ready-made formulas found in the financial market, but it is also necessary to understand that control Risk should be the priority.
For Howard Marx, the greatest fear of most investors is the loss of capital, not market fluctuations themselves. It is because of this fear of losing money that, during a crisis, most people despair and make hasty decisions. Therefore, it is very important to prioritize risk when investing. You need to understand, recognize, and control it so that panic doesn't overwhelm you during these moments.
Base your decisions solely on data and information, and it's very important to maintain this unity; it makes it easier to control your emotions. After all, you can better analyze the market and investments as a whole. Having observed these investor trends for years, Marques applies all his expertise in the financial market and his investment philosophy to asset management, administered by Outree, known for taking advantage of market crises.
The mega-investor always likes to remind people that in the world of finance, there is also the element of luck. After all, the financial market is not predictable. You can buy a stock today thinking about the long term, but everything can change from one day to the next, and everything can fall apart, just as you can lose money if that asset...
Even if the company is sold and the stock price rises significantly, you can still profit. And if the asset experiences excellent appreciation in a short time, this didn't happen because you're very good, but because you were very lucky. However, as Marx says, we always have to be exposed so that when luck strikes, we can take advantage of it.
But that's it for this video, folks. I hope you enjoyed it. If you liked the video, leave a like. If you're not subscribed to the channel, subscribe. Thanks, bye, and until next time.
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