Howard Marks
26 statements across 1 episodes · 7 bullish · 6 bearish · 1 people on the record · first statement May 4, 2026 by Howard Marks · across every show →
On the record as a speaker too: Howard Marks's record, appearances and statements → this page counts the times other people say the name.
Everything said about Howard Marks, oldest first
May 4, 2026 bullish
May 4, 2026 neutral
May 4, 2026 neutral
Marks: Exceptional, low-risk returns come from unloved assets, not popular ones
“If you go into a field that everybody likes and they like it a lot and have bid up the price, then your returns are not likely to be high. If they, if you go into a field where everybody else has been blind to the merits and says, I wouldn't touch that with a …”
May 4, 2026
Marks: Prepare portfolios for multiple middle-probability outcomes rather than maximizing single scenarios
“In investing, you can put together a portfolio rather than one that will produce maximum success. If a certain future unfolds, you can put together a portfolio Which will do fine if several, any of several futures unfold, and not too terribly if a bunch of oth…”
May 4, 2026 negative
Marks: Buying Nifty 50 stocks in 1969 led to 95% losses
“And if you bought those stocks, the day I got to work in September of 69, if you held them tenaciously for five years, you lost about 95% of your money. 95%. Because for many of them, something did go wrong, and for all of them, the price was too high. The P.E…”
May 4, 2026 negative
May 4, 2026 negative
Howard Marks: Readily Available Present Data Cannot Create Above-Average Returns
“Readily available, quantitative information about the present cannot hold the key to success. Because everybody has it. Success in investing is doing better than others. Investing is a funny field because it's really easy to be average, and it's really hard to…”
May 4, 2026 neutral
Marks: Average insight into AI will not provide an investment edge
“So if your excitement level, and by that I mean your insight level, is average, you don't have an edge. Your, and you get involved in AI, your performance will be average. You will go along with the tide if it works. You'll be schmeiced if it doesn't work.”
May 4, 2026
May 4, 2026 neutral
Marks: Psychological barriers prevent most investors from buying during market panics
“The bad times create an opening for active management. But it's still hard, and not many people can do it well. Why do bad times create an opening? Because panic drives down, let's say, stock prices. But the same panic causes most people to panic, which means …”
May 4, 2026
Howard Marks: Second-level thinking cannot be taught, like height in basketball
“Asking me how to become a second level thinker is like in basketball, we say you can't coach height. All the coaching in the world will not make your team taller. So can you, I can tell you that you must become a second level thinker to be successful as an inv…”
May 4, 2026 positive
May 4, 2026 positive
May 4, 2026
Howard Marks: Ability to infer market behavior rises after extreme events
“The things that have happened, for example, in the economy and the markets are likely to induce certain behavior in the future, and you can know a little bit about that. And, but when the history and the past behavior has been extreme, the ability to infer fro…”
May 4, 2026 positive
May 4, 2026 negative
May 4, 2026 positive
Marks: AI-driven markets without emotional bias should produce steadier returns
“It stands to reason that it would. If America, if we programmed AI to find the elements and expect the patterns that produced success in the past and left it alone. And since we're told AI does not have greed or fear or optimism or pessimism, you would think t…”
May 4, 2026 neutral
May 4, 2026 positive
Howard Marks: US Economic Recovery Is in Healthy Middle Age
“Well, I think that the recovery is, ah, I think it's, ah, it's gone on a good while, and, ah, it's, ah, it's not nascent, it's not adolescent, ah, it's, but it's also not, ah, ah, geriatric. I think it's in middle age, ah, and I think the US economy, if that's…”
May 4, 2026 positive
May 4, 2026
May 4, 2026 bearish
May 4, 2026
Marks: History rhymes because human nature changes very slowly
“There are certain themes that re that rhyme from instance to instance in history. And They mostly have to do with human nature. And I think human nature doesn't change incredibly slowly. I mean, when we talk about fight or flight, people will start talking abo…”
May 4, 2026
Marks: Superior Credit Investing Requires Predicting Default Probabilities Better Than Competitors
“The base, the most important fundamental skill set is predicting the probability of the fault better than other people. That's where if we don't have that, that's the necessary condition for superior performance.”
May 4, 2026 negative
May 4, 2026 neutral
Marks: Founding Oaktree at 49 Was His First Intentional Career Decision
“When I think about my early decades, not years, decades, and I think about you know, what I did from, let's say, I would say from the beginning of, let's say high school until starting Oak Tree in, in 95. So that 35 year period, which took me up to age let's s…”