TIP 073 : Billionaire Howard Marks - The Most Important Thing (Investing Podcast)
We Study Billionaires - The Investor’s Podcast Network
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What's Second Level Thinking?
At the time of writing, i should say, his company was managing 80 billion dollars. And what he's talking about with second level thinking is he says most people that are in the market are just level one thinkers. So a second level thinker would say, yes, the profit went up, but did they do that? How did they get their net income to go higher? And was their revenue in lock step with previous gains, if you will.
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