1min snip

The Memo by Howard Marks cover image

The Insight: Conversations – Special Episode with Annie Duke and Howard Marks

The Memo by Howard Marks

NOTE

Analyzing High Multiples in Investments

Investors need to look beyond the immediate high multiples and consider the base rates to understand if a paradigm shift has occurred in the market. By evaluating causal drivers and considering if there is a significant change that could justify the high multiples, investors can determine if it is a reasonable investment. This approach helps to differentiate between what's unusual and what's normal in the market, enabling better assessment of investment opportunities and fostering skillful counterfactual thinking.

00:00

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode