Navigating Investments in a Low-Yield World

This chapter discusses strategies for managing investments across different asset classes, emphasizing the balance between defensive and aggressive positions. It contrasts high-yield bond funds' performance in various economic climates and explores the shifting perspectives on Bitcoin as an alternative investment amidst low yield environments. The conversation also delves into macroeconomic impacts on asset valuations and the importance of using appropriate discount rates in investment analysis.

Transcript

chevron_right

Play full episode

chevron_right

Transcript

Episode notes

In today’s episode, we have an extremely special guest who is a billionaire and investing legend, Howard Marks. Howard really needs no introduction, but if you have not read Howard's memos, you are missing a critical piece of your investing education. Howard has also written some of Trey's favorite books including The Most Important Thing and Mastering the Market Cycles, which they discuss in depth in this episode and much more.

IN THIS EPISODE, YOU'LL LEARN

(01:54) How much investors should really focus on macro (spoiler: very little).
(11:53) How to balance risk without the temptation to time the market.
(22:32) Howard's thoughts on bitcoin, bonds, and interest rates.
(34:58) Evergreen wisdom around price and value.
(47:19) And be sure to stick around for the last question where Howard provides a portfolio he would leave to his grandchildren.

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
Howard Marks’ Memos.
Trey Lockerbie Twitter.

NEW TO THE SHOW?

Check out our We Study Billionaires Starter Packs.
Browse through all our episodes (complete with transcripts) here.
Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.
Enjoy exclusive perks from our favorite Apps and Services.
Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

Bluehost
Fintool
PrizePicks
Vanta
Onramp
SimpleMining
Fundrise
TurboTax

HELP US OUT!

Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!

Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Learn more about your ad choices. Visit megaphone.fm/adchoices

Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!

Get the app

Home Top podcasts Popular guests