One of my heroes in the investing world is Howard Marks.
What impresses me so much about him is his ability to act counter-cyclically to the markets.
To give you an example:
In the worst part of the 2008 global financial crisis, Howard dropped 6 billion into the markets.
Can you imagine…
The world is literally falling apart around him.
Banks are collapsing.
People are losing their jobs.
The economy is plummeting into a recession.
People think he is insane to be making any type of investment.
Yet, he was able to act in a counter-cyclical way.
Making HUGE moves while others are running for the exits.
I wonder how he felt in the moment of pressing the button on the trades.
Was he excited to have an opportunity to buy things at bargain prices or fearful that it would be a huge mistake?
Either way, he still found the courage to do what others were unwilling to do.
The discipline it takes not to invest when things are hot but also buy things when no one wants them.
Anyhow, following on from that point.
This week on the podcast I have Goose McGrath on for part 2 of our podcast:
“The Danger of Following the Crowd”
We dig heavily into more discussion around the danger of following the masses.
More importantly, where the masses have it wrong today.
PS: I highly recommend you read Howard Marks memos.
They are free and up on his website.
You will become a better business owner and investor for reading them!
All information we share is NOT financial or investment advice and is purely intended for entertainment and educational purposes only. Always seek professional advice before acting on any financial decision.
00:00 Welcome to Business & Investing
01:42 Here’s how you can beat interest rates
05:15 Covid era drops building approval rates
10:37 Soup up your portfolio to change the game
13:17 Playing business to win
21:01 Why waiting is often a better idea
30:08 Everything is transitory
33:01 The bellwether mindset
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ABOUT THE GUEST:
Goose McGrath is the CEO of Dashdot, a property investment firm helping business owners build prolific, profitable property portfolios. They specialise in sourcing properties that are under market value, cashflow positive and have strong growth and value add potential.
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