The Most Important Thing:Uncommon Sense for the Thoughtful Investor

Howard Marks, the chairman and co-founder of Oaktree Capital Management, with $80 billion under management, is renowned for his insightful assessments of market opportunity and risk.

After four decades spent ascending to the top of the investment management profession, he is today sought out by the world's leading value investors, and his client memos brim with astute commentary and a time-tested, fundamental philosophy.

Now, in The Most Important Thing: Uncommon Sense for the Thoughtful Investor, Marks's wisdom is concentrated in a single summary that will provide valuable lessons for both the amateur and the experienced investor.

This summary explains the keys to successful investment and the pitfalls that can destroy capital. It explores such topics as "second-level thinking," patient opportunism, defensive investing, and many more.

Which of these elements is the most essential? Successful investing requires thoughtful attention to many separate aspects, and according to Marks, each of these subjects is the most important thing.