Warren Buffett endorses Marks's investment memos and books.
“, are widely admired in the investment community. They detail his investment strategies and insight into the economy and are posted publicly on the Oaktree website. He has also published 3 books on investing. [ 2 ] [ 3 ] According to Warren Buffett , ”
Marks cites Buffett's principle that investor imprudence requires greater personal prudence and should signal worry.
“Buffett says, the less prudence with which others conduct our affairs, the greater the prudence with which we must conduct our own affairs.”
Marks quotes Buffett preferring lumpy 15% return over smooth 12%, challenging volatility aversion.
“Buffett again. Buffett says, I'd rather have a lumpy 15% return than a smooth 12.”
Marks states Buffett attributes his success to just 12 investments over 60-70 years without many abject failures.
“Warren Buffett, the most successful investor of all times, attributes his success to 12 investments over the last sixty, seventy years. Now he didn't have that many abject failures,”