92 Insightful Quotes from The Most Important Thing by Howard Marks. One of the best value portfolio management books ever written. One of the best value portfolio management books ever written.
...Howard Marks delivers his commentary in a style that has been described as “insightful, direct, homespun, expert and sharply pointed”. His objective in writing The Most Important Thing was to provide a book that would lay out his investment philosophy in a manner that would be beneficial to the average investor.
His approach is to lay out The Most Important Thing Is….. in 20 Chapters. Each is a building block to successful investing. Together they create a “solid wall” in which each piece is essential “guideposts” that keep investors focused on the most important things for successful portfolio management.
...There is a debate between two approaches among investors: qualitative vs. quantitative. In reality, every investor adopts at least a little of both approaches; but may emphasize one or the other. The qualitative approach concentrates on the quality of the company. Emphasis is put on the company’s products, services, management, competitors, etc. A quantitative approach concentrates on the income statements, balance sheets, and cash flows, and analyzes the relationship between price and intrinsic value .
...Our discussion of these 7 investment concepts will provide you with a different thought process or approach to investing. Successful value portfolio management requires a different way of thinking. Make the effort to be above average.
...The defensive investor should understand the difference between prediction (qualitative approach) and protection (quantitative or statistical approach). The risky approach is to try and predict or anticipate the future. The protection approach measures the proportion or ratios between price and relevant statistics (i.e. earnings, dividends, assets, debt, etc.).
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As founder of the Arbor Investment Planner my passion is to educate and empower the individual investors to manage their own investment portfolio.
The Arbor Investment Planner is a value investment portfolio management guide for those individual investors who choose to manage their own money. I focus on ideas and concepts important to the self directed investor; but put special emphasis on risk management, value investing strategies, and proper asset allocation and diversification.
- Ken Faulkenberry
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