The Most Important Thing About Investing

The title of the final chapter of this book is "The Most Important Thing." Howard believes that the most important thing in the investment process is value. In other words, the most essential thing for an investor is the ability to recognize value. Only in this way can reasonable judgments be made based on the value-added potential of these things. To do this, we should learn knowledge that others don't know and look at problems from a multi-dimensional perspective, so that we can analyze things more thoroughly. Howard's views deeply inspired me.

The most important thing about investing is the perception of risk. Some people are risk lovers, while others are extremely seeking benefits and avoiding disadvantages; but I think everyone wants to be an active gainer. The market has long given its preference among various choices; however, the market situation is now turbulent. If you want to judge the direction of the market tomorrow, knowing yourself and the enemy is a necessary part of the problem. Marks tells the author how to beat the market's returns and become an active investor. Whether you are a market fundamentalist or believe that the market pricing mechanism is ineffective; he believes that you can understand the inevitability of impermanence on the premise of grasping market efficiency, which is the most important thing in investment.

Howard Marks writes in The Most Important Thing in Investing: Remember, your investment goal is not to achieve an average return; you want to beat the average. This requires that your thinking must be better than others, that is, thinking more carefully and at a higher level. Other investors may be smart, well-informed, and computer-savvy, so you have to find a differentiator. You have to think things they haven't thought, see things they haven't seen, or have insights they don't have. Your reactions and actions must be different. You have to be more right than other people. The deeper meaning I understand is that your way of thinking must be extraordinary. You have to behave differently than the average person. Your expectations and even your portfolio have to deviate from the norm. Your views have to be more correct, different and better than the consensus.

The first chapter of the book "The Most Important Thing in Investing" talks about "How to learn second-level thinking." The main point of this chapter is that when it comes to a certain field, such as investment. Ordinary people can easily reach the level that an ordinary person should achieve through some opportunities and hard work. And if you want to go deeper in this field, you must set higher standards for yourself, and you must have a broader vision and action ability in your thinking. I think it is more like a core driving force, and this chapter inspired me very much.

Full of useful information and unpretentious underlying investment logic. Let me connect with the advice of investment guru Buffett. The first task of investment is to pay attention to and protect the principal. Mr. Munger's purpose is to make no mistakes or make fewer mistakes. The focus of investment is on controlling risks, retracement and waiting patiently. Even if the attack power is low, it will give you returns beyond expectations. In fact, investors pay more attention to attack power and the impatience to get rich, so they often end up with losses. When investing, you should think more about Sun Tzu's Art of War, learn to measure and evaluate the environment, spend time on accumulation, strike with thunder when you are sure, and build high walls and accumulate food when you are not sure.

This is a book that is read by investors who have invested 5 to 10 years. It can be said to be an investment bible. It is very good, very good. [Love][Love][Love][Love][Like][Like][Like][Like]

Go against the current and become a wise man in the market! 🧠 Can you stay calm when the market is crazy? When markets panic, can you see opportunities? "The Most Important Thing in Investing" is your compass, taking you through the fog of investment and discovering overlooked treasures. Howard Marks is not only your mentor, but also your comrade-in-arms. He uses second-level thinking to teach you how to become a true wise man in the countercurrent of the market!

Focus on sound and diversified investments and emphasize buying well! Not bought! Understand what stage of the cycle you are in and make appropriate investments. Being good at reverse thinking and buying cheap can minimize losses when mistakes are made. As long as you don't make mistakes, profits will come naturally! The central idea of ​​this book is that it is stable and error-free, but in a bull market, you can invest moderately and actively to increase returns. Personal opinion!

After all, the most important thing in investing is to overcome greed and fear. From a human perspective, it is not easy. Disciplined investment is true. . . You will regret it afterwards, but it is also because of disciplined investment that you have the opportunity to regret it.

He emphasized the importance of value investing and low risk and high returns, which I very much agree with. Moreover, the book also incorporates the opinions of other experts and is very rich in content. I especially like Howard's contrarian way of thinking. He is very cautious in investing, which taught me a lot. In short, I think this book is very helpful for people who want to improve their investment level, and I recommend it to you!

A wonderful little book

Very good. I read it 9 times.

It looks good, but the translation is a bit awkward.

This book can be summed up in one sentence: Think contrarian and invest contrarian.

It is beneficial to study. This book has correct views and will last for a long time.

The theoretical knowledge is simple, solid and practical. It is a must-read book for learning financial investment knowledge. It should not be read just once, but should be read at room temperature and reflected frequently.

This is a very good book that explains value investing very thoroughly.

Very well said, full marks

The wisdom of investment masters

Very nice! Worth learning!

Not bad, you can write well

Brainstormed a bit

Good book on value investing

Must-read books on investing

True value investing

After reading it for the first time, I felt that I still didn't understand some parts and needed to read it more carefully.

I have benefited a lot from the master's trading memo and investment experience.

It expresses something profound!

A book that value investors read only a few times.

Not bad, it seems I have to read it at least twice