The Most Important Thing: | Uncommon Sense For Th...

: Success requires "knowing what you don’t know" and accepting the role of luck in every outcome.

: The "second-level thinker" asks, "Everyone thinks this is a great company, but is it as great as they think? Is the price too high for the actual value?". The most important thing: uncommon sense for th...

: To achieve superior results, you must have the courage to buy when others are fearful and sell when others are greedy. : Success requires "knowing what you don’t know"

: He didn't chase the trend. Instead, he waited for the right opportunity, knowing that "good times teach only bad lessons"—like the idea that investing is easy or risk is gone. : To achieve superior results, you must have

Marks famously used his philosophy to identify the dot-com bubble in early 2000. While the world was caught in a "euphoric" swing of the market pendulum, Marks remained patient and cautious.

: You cannot eliminate risk; you can only control it. The most dangerous time is when everyone thinks there is no risk.