The Most Important Thing: Uncommon Sense | For Th...

In the late 1960s, a young student at the found himself at the "ground zero" of modern finance theory. Howard Marks , who would later co-found Oaktree Capital Management , spent decades refining what he calls "uncommon sense"—a philosophy that eventually became his acclaimed book, The Most Important Thing .

Most people think in a straight line: "This is a great company, I should buy the stock." Marks calls this . He argues that because everyone else sees the same "great company," the price is already high, leaving no room for profit. The most important thing: uncommon sense for th...

: To achieve superior results, you must have the courage to buy when others are fearful and sell when others are greedy. In the late 1960s, a young student at

AI responses may include mistakes. For financial advice, consult a professional. Learn more He argues that because everyone else sees the

: Success comes not from being right, but from being right and different from the consensus. The Pendulum and the 2000 Tech Bubble