Distinguished Speaker Series: Howard Marks, CFA 

From the endless noise of Cutlery and dishes, I find it disturbing that people are busy eating and drinking while Howard is sharing this wealth of knowledge.😅

This is an excellent video about the financial market at a high level. Some very rough summary about the video (and perhaps something more). 1, Higher risk does not mean a higher return 2, Market has less structural inefficiency nowadays, but cyclical inefficiency still exists 3. If you are trading on some news or information, you should ask yourself, how else does not know that i.e. we need to know and understand more to make an extra return. 4, Do not believe the economic forecast, try to understand the position the economy is at (e.g. the position of the cycle) 5. Sometimes even though one knows that an inefficiency exists, but one can doubt themselves. However, sometimes, people think they have spotted the inefficiency when there is none. 6. Regardless of the position of our economy, the market can go up, down or flat. (More) In my opinion, if the market is overheated, then the reversion process can be dramatic compared to the ones where the shares are priced at intrinsic value.

Excellent

Great investing wisdom

55:20 Fundamental Change from October 3rd to October 4th. Fed started decreasing their balance sheet. You're Welcomed Howard.

Thank you for putting this online! Could we see the slides tho?

if you close your eyes, you feel like listening to buffett

just 7k views... what a shame - or is it?

Lot of cutlery noise but trying to follow

I don't believe in forecasts and I especially don't believe in my own.

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Thumbs down. Mr Marks prepares slides and speaks to the slides. What those slides look like I guess we can only imagine.