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Buy on Taobao ↗A BOOK TO EXPLOREThe Most Important ThingHoward Marks
The Most Important Thing
A book Buffett says he learns from.
Marks explores risk, price and value, cycles and the limits of judgment, focusing on how to think about an investment rather than what to buy.
Buy the bookWhy Buffett recommends it
Buffett’s endorsement · Columbia University Press ↗This is that rarity, a useful book.
He learned from Marks’s memos—and from this book.
In the publisher’s endorsement, Buffett says he reads Marks’s memos first when they arrive, always learns something, and learns even more from the book.
OUR READING
Why is it worth reading?
The endorsement shows Buffett continuing to learn from another investor’s judgment. Readers can use the book to examine gaps in their understanding of risk.
Who this book is for
Adults with some investing knowledge who want to think more carefully about risk and uncertainty.
A way into the book
Start with the chapters on risk and distinguish a poor outcome from the risk taken at the time of a decision.
The Most Important Thing
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