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The Most Important Thing Illuminated – Uncommon Sense for the Thoughtful Investor - Columbia Scholarship Online
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The Most Important Thing Illuminated: Uncommon Sense for the Thoughtful Investor

Howard Marks


In The Most Important Thing investing insight of this book’s author’s celebrated client memos was distilled into a single text and made his philosophy available to general readers. In this book, this wisdom is joined by the comments, insights, and counterpoints of four renowned investors and investment educators. These experts lend insight into the most important concepts in successful investing, such as “second-level thinking,” the price/value relationship, patient opportunism, and defensive investing. The author also adds his own annotations, expanding on his book’s original themes and issue ... More

Keywords: second-level thinking, price/value relationship, value investing, investment strategy, productivity, defensive investing, patient opportunism, reasonable expectations

Bibliographic Information

Print publication date: 2013 Print ISBN-13: 9780231162845
Published to Columbia Scholarship Online: November 2015 DOI:10.7312/columbia/9780231162845.001.0001


Affiliations are at time of print publication.

Howard Marks, author
Oaktree Capital Management, L.P.

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