TIP665: The Most Important Thing by Howard Marks w/ Clay Finck & Kyle Grieve
We Study Billionaires - The Investor’s Podcast Network
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Invest Wisely in Adversity
Access to capital diminishes during economic downturns, leaving only the most qualified borrowers able to secure credit, which leads companies to struggle for funding. The inability to refinance debts increases the risk of defaults and bankruptcies, exacerbating economic contractions. Historical perspectives suggest that these challenging times offer the best opportunities for investment, requiring courage to take risks when others are retreating. Successful investing involves observing market cycles while effectively managing risk, ultimately minimizing significant losses. Instead of primarily focusing on high returns, investors should aim to make sound investments that prevent large failures, ensuring a more resilient portfolio.
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