In this episode, Preston and Stig discuss billionaire Howard Marks’ book, The Most Important Thing. The topics discussed include risk management, probability projections, credit cycle timing, and the efficient market hypothesis. You won’t want to miss this engaging discussion from a book written by one of the best investors in the world.

IN THIS EPISODE, YOU’LL LEARN:
– How Preston’s short position of junk bonds is performing
– How any asset is attractive at the right price, and how no asset is attractive at the wrong price
– Why value investors should be attentive to credit cycles
– How all financial markets are swinging like a pendulum and how to profit from it
– Why value investing is like tennis for beginners

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