378 TIP. Move Forward with Caution

We have an extremely special guest who is a billionaire and investing legend, Howard Marks. Howard really needs no introduction, but if you have not read Howard’s memos, you are missing a critical piece of your investing education. Howard has also written some of Trey’s favorite books including The Most Important Thing and Mastering the Market Cycles, which they discuss in depth in this episode and much more.

IN THIS EPISODE, YOU’LL LEARN:
00:00:00 – Intro
00:00:14 – Has The Marco Landscape Became Distinct And Unique
00:03:48 – Is This Time Truly Different When It Comes To Market Cycles
00:09:12 – How To Balance Risk Without The Temptation To Time The Market
00:12:06 – Missing The Decline
00:13:12 – Is Howard Marks Seeing Similar Bubble Territory of 2006 In The Recent Market
00:19:51 – Oaktree Motto: Move Forward But With Caution
00:20:52 – 3 Ways To Increase Caution In Investing
00:25:39 – Becoming A More Defensive Investor As You Age And Thoughts About Bonds Today
00:28:55 – Howard Marks Thoughts About Bitcoin Today
00:33:40 – Cost Of Capital
00:45:31 – Howard Marks Evergreen Wisdom About Price And Value
00:52:20 – Does Howard Marks See The Market Weighted S&P500 As A Potential Risk To Retail Investors
00:57:37 – How Does The FED’s Recent Involvement On Corporate Debt Affect Oaktree’s Investment Playbook
01:01:13- Howard Marks Portfolio He Would Leave His Grandchildren

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