Sunday, April 24, 2011

Book Review: The Most Important Thing by Howard Marks

I was very fortunate to receive an advance copy of Howard Marks's new book, The Most Important Thing, directly from Howard himself. I then asked Howard if he would mind if I reviewed the book for my blog. Knowing how popular the memos he writes on behalf of Oaktree Capital Management are with members of the value investing community, I thought my readers would really enjoy learning more about his investment philosophy. Howard agreed to let me review the book on one condition: that I do so objectively and without hesitating from articulating any criticisms I had. The ultimate product is the following analysis of The Most Important Thing, in Scribd format because it is a little too long for a blog post. If you have any troubles with Scribd or would like a PDF copy, just email me at and I will happily send it to you.

According to the link to the book on, it will be available on May 1st and can be pre-ordered now. I won't take any time here (read the review!) to explain why, but I highly recommend that readers with an interest in investing consider purchasing the book in order to further your own knowledge and gain a new appreciation for both Howard's writing and approach to investing.

Book Review- The Most Important Thing by Howard Marks