The Most Important Thing Illuminated(投资最重要的事)英文版0 ^. b4 i, T5 j! K2 i4 F6 }& O
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Product Details 基本信息+ @. `4 v6 [% d4 A( @/ D
Author 作者Bruce C. Greenwald,HowardMarksFormat 版本精装
$ r8 m N4 D. u8 f* U$ x Pages Number 页数248页+ K' L6 x) P& C; J- t" a- _1 f
Publisher 出版社Columbia UniversityPress0 e3 P* P% o. F( N# R1 Q! j2 e
Publication Date 出版日期2013年1月15日
2 p' E* N7 w; t, z2 ` Product Dimensions 商品尺寸15.2 x 2.3 x 22.9 cmShipping Weight 商品重量454 g
1 \6 ?- c8 P8 x Language 语种英语
( s& ~9 u* I; m+ c" s内容简介
2 U% N! x+ n. Y Howard Marks's The Most Important Thing distilled theinvesting insight of his celebrated client memos into a singlevolume and, for the first time, made his time-tested philosophyavailable to general readers. In this edition, Marks's wisdom isjoined by the comments, insights, and counterpoints of fourrenowned investors and investment educators: Christopher C. Davis(Davis Funds), Joel Greenblatt (Gotham Capital), Paul Johnson(Nicusa Capital), and Seth A. Klarman (Baupost Group). Theseexperts lend insight into such concepts as "second-level thinking,"the price/value relationship, patient opportunism, and defensiveinvesting. Marks also adds his own annotations, expanding on hisbook's original themes and issues. A new chapter addresses theimportance of reasonable expectations, and a foreword by Bruce C.Greenwald, called "a guru to Wall Street's gurus" by the New YorkTimes, speaks on value investing, productivity, and the economicsof information. *** Howard Marks, the chairman and cofounder ofOaktree Capital Management, is renowned for his insightfulassessments of market opportunity and risk. After four decadesspent ascending to the top of the investment management profession,he is today sought out by the world's leading value investors, andhis client memos brim with insightful commentary and a time-tested,fundamental philosophy. Now for the first time, all readers canbenefit from Marks's wisdom, concentrated into a single volume thatspeaks to both the amateur and seasoned investor. Informed by alifetime of experience and study, The Most Important Thing explainsthe keys to successful investment and the pitfalls that can destroycapital or ruin a career. Utilizing passages from his memos toillustrate his ideas, Marks teaches by example, detailing thedevelopment of an investment philosophy that fully acknowledges thecomplexities of investing and the perils of the financial world.Brilliantly applying insight to today's volatile markets, Marksoffers a volume that is part memoir, part creed, with a number ofbroad takeaways. Marks expounds on such concepts as "second-levelthinking," the price/value relationship, patient opportunism, anddefensive investing. Frankly and honestly assessing his owndecisions--and occasional missteps--he provides valuable lessonsfor critical thinking, risk assessment, and investment strategy.Encouraging investors to be "contrarian," Marks wisely judgesmarket cycles and achieves returns through aggressive yet measuredaction. Which element is the most essential? Successful investingrequires thoughtful attention to many separate aspects, and each ofMarks's subjects proves to be the most important thing. "This isthat rarity, a useful book."--Warren BuffettAbout the Author: B5 f" W) p* g, g
作者简介
" m1 \. y' y7 A5 O' V3 @ Howard Marks is chairman and cofounder of Oaktree CapitalManagement, a Los Angeles-based investment firm with seventy-fivebillion dollars under management. He holds a bachelor's degree infinance from the Wharton School and an MBA in accounting andmarketing from the University of Chicago. He is the author of TheMost Important Thing: Uncommon Sense for the Thoughtful Investor.Bruce C. Greenwald holds the Robert Heilbrunn Professorship ofFinance and Asset Management at Columbia Business School and is theacademic director of the Heilbrunn Center for Graham & DoddInvesting. He is the coauthor of The Curse of the Mogul: What'sWrong with the World's Leading Media Companies.
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