https://minutesof.com/howard-marks/on/performance/ Everything Howard Marks has said on performance: 4 verbatim quotes between May 2022 and May 2026, each with a timestamp and a link to the recording it… en Sun, 30 Aug 2026 16:22:27 +0000 https://minutesof.com/q/9d73d1a4-58d9-4d76-aba2-2d6d6a6ceb8c/ https://minutesof.com/q/9d73d1a4-58d9-4d76-aba2-2d6d6a6ceb8c/ “And so, over the last forty years, on average, something like 3.6 or 3.7% of all high yield bonds have gone into default every year, and our default rate has been roughly a third.” — Nikhil Kamath Mon, 04 May 2026 14:30:01 +0000 performance https://minutesof.com/q/e287effc-d7fc-41e0-8067-5fa0ca1d9d07/ https://minutesof.com/q/e287effc-d7fc-41e0-8067-5fa0ca1d9d07/ “So solidly in the second quarter for fourteen years in a row. But interestingly, as a result, for the fourteen years overall, they were in the fourth percentile.” — The Investor’s Podcast Sat, 13 Dec 2025 22:45:06 +0000 performance https://minutesof.com/q/c48a9c99-bedf-4b86-9e35-d9fc20c9ea57/ https://minutesof.com/q/c48a9c99-bedf-4b86-9e35-d9fc20c9ea57/ “Approach is very simple, cut off the bottom tail. That's what this guy in the Midwest did.” — Goldman Sachs Thu, 30 Jun 2022 15:18:25 +0000 performance https://minutesof.com/q/ac116a11-08ca-4597-aaef-38328f11b9ae/ https://minutesof.com/q/ac116a11-08ca-4597-aaef-38328f11b9ae/ “achieving an average return with below average risk is an equally significant accomplish, but easily overlooked because only the risk is evident, only the return is evident.” — Wharton School Mon, 02 May 2022 13:42:01 +0000 performance