Columbia Business School Publishing, February 2012
"When I see memos from Howard Marks in my mail, they're the first thing I open and read. I always learn something, and that goes double for his book." -- Warren Buffett
In May of 2011, Columbia Business School Publishing released Howard Marks's The Most Important Thing, a book that distilled the wisdom of Marks's celebrated client memos into a single volume, making his time-tested investing philosophy available to general readers for the first time. The book was greeted with wide acclaim from investors -- professional, casual, aspiring, and armchair alike -- and became a business bestseller.
Now, Columbia Business School Publishing is proud to announce an
innovative digital edition that allows you to read Marks's words
alongside comments, insights and counterpoints from four other
renowned investors and investment educators: Christopher Davis,
Joel Greenblatt, Paul Johnson and Seth Klarman. See what these
investors think of such concepts as "second-level thinking," the
price/value relationship, patient opportunism, and defensive
investing. There are also annotations from Howard Marks himself,
highlighting some of the themes that run throughout the book,
along with a previously unpublished bonus chapter on the
importance of reasonable expectations.
Whether you've already read The Most Important Thing
cover to cover or are new to the book, The Most Important
Thing Illuminated will give you an unprecedented look into
how America's top investors make decisions and achieve financial
This edition features a foreword from Bruce Greenwald.
| ISBN: 9780231162845 | Publication Date: February 2012
Reviews for The Most Important Thing"This is that rarity, a useful book."
-- Warren Buffet, Chairman and CEO, Berkshire Hathaway
"The Most Important Thing is destined to become an
investment classic -- it should easily earn its place on every
thinking investor's bookshelf. Howard Marks has distilled years of
investment wisdom into a short book that is lucid, entertaining,
and ultimately profound."
-- Joel Greenblatt, Columbia Business School, Founder and Managing Partner of Gotham Capital
"If you take an exceptional talent and have them obsess about
value investing for several decades -- including deep thinking
about its very essence with written analysis along the way -- you
may come up with a book as useful to value investors as this one
-- but don't count on it."
-- Jeremy Grantham, Cofounder and Chief Investment Strategist, Grantham Mayo Van Otterloo
"Regular recipients of Howard Marks's investment memos eagerly
await their arrival for the essential truths and unique insights
they contain. Now the wisdom and experience of this great investor
are available to all. The Most Important Thing, Marks's
insightful investment philosophy and time-tested approach, is a
must read for every investor."
-- Seth A. Klarman, President, The Baupost Group
"Few books on investing match the high standards set by Howard Marks
in The Most Important Thing. It is wise, witty, and laced
with historical perspective. If you seek to avoid the pitfalls of
investing, you must read this book!"
-- John C. Bogle, Founder and former CEO, The Vanguard Group