The Most Important Thing

"The Most Important Thing" by Howard Marks is a must-read book for any investor, amateur or seasoned. Marks, chairman and co-founder of Oaktree Capital Management, shares his decades of experience in the investment management profession to guide readers on the keys to successful investment and avoiding common pitfalls. Using real-world examples and insights, Marks covers topics such as patient opportunism, defensive investing, and the price/value relationship. The book is part memoir, part creed, and provides valuable lessons for critical thinking, risk assessment, and investment strategy. This is a rare useful book that even Warren Buffet recommends.