Risk and Vigilance
Howard emphasizes the critical need for investors to remain vigilant, especially during times of market exuberance. He recalls witnessing irrational deals in the mid-2000s, highlighting how a lack of skepticism led to disastrous outcomes in the housing and mortgage markets. The collapse of mortgage-backed securities serves as a stark reminder that when others act recklessly, prudent investors must tread carefully.In this clip
From this podcast
Odd Lots
How Oaktree's Howard Marks Spots a Market Bubble
Related Questions
What mistakes did banks make in the financial crisis as discussed in the episode John Cochrane on the Financial Crisis and the clip Understanding Mortgage Backed Securities?
What was the risk in investing as discussed in the episode Howard Marks | The Knowledge Project #53 and the clip Money and Risk?
What caused the 2008 financial crisis as discussed in the episode Russ Roberts on the Crisis and the clip Uncovering the Mortgage Market?