On today's show, we talk to billionaire, Howard Marks. Mr. Marks has produced a 19% annual return for the past 22 years investing in distressed debt. He has been a money manager for 50 years and is a renown luminary in security analysis.

IN THIS EPISODE YOU’LL LEARN:

• How Howard Marks invests accordingly to the market cycle.
• How Howard Marks can be fully invested, and still be cautious in an overvalued stock market.
• How to assess where we are in the market cycle.
• What Howard Marks learned from the current cycle we’re in.
• Which advice Charlie Munger had for Howard Marks about investing. 

BOOKS AND RESOURCES

• Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
• Howard Marks’ new book, Mastering The Market Cycle.
• Read Howard Marks’free memos.
• Read the Interview highlights of Howard Marks’ latest episode.

NEW TO THE SHOW?

• Check out our We Study Billionaires Starter Packs.
• Browse through all our episodes (complete with transcripts) here.
• Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.
• Enjoy exclusive perks from our favorite Apps and Services.
• Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.
• Learn how to better start, manage, and grow your business with the best business podcasts. 

SPONSORS

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