Howard Marks: Why Successful Investors Are Often Lonely | The Acquirer's Multiple®

Howard Marks: Why Successful Investors Are Often Lonely | The Acquirer's Multiple®

Let’s be honest—most people are terrible at investing. They follow the crowd, buy what’s already popular, and wonder why they never make real money. Howard Marks nailed it in his memo Everyone Knows when he said, “Superior investors know—and buy—when the price of something is lower than it should be.” But here’s the catch: if something’s cheap, it’s usually because nobody else wants it. And that’s exactly where the smart money goes. Think about …