Howard Marks

speaker

431 appearances 1 recordings 1 series first heard Jul 2026 last heard 15 Jul

Howard Marks’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.

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And the fact that the market was not acting as a disciplinarian, which is its main job.

Main job is to, people come in and say, I want money for this, this, and this.

And the market's job is to say, no, that doesn't make any sense.

That's a stupid idea.

We're not going to invest in that.

That's the job.

And sometimes the market doesn't do that job.

And when the market doesn't do that job, then dumb ideas get tenaced.

And when they turn out to be dumb, people lose money.

So I think we were able to convince people that some dumb things were happening.

And then, of course, there's great respect for Bruce Karsh for the investing he's done over the years.

I think those are the main reasons why we were able to do it.

And by the way, you hit the nail on the head.

We did it in advance of the crisis.

The best time to invest is in a crisis.

You can't raise money during the crisis because the news is so terrible.

So, you know, my wife and I have a favorite movie we watched called Spy Game with Robert Redford.

And he says, Redford says, when did Noah build the ark?

Before the flood.

You got to build the arc before the flood.

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