Howard Marks

"This is that rarity, a useful book."—Warren Buffett
Howard Marks, the chairman and cofounder of Oaktree Capital Management, is renowned for his insightful assessments of market opportunity and risk. After four decades spent ascending to the top of the investment management profession, he is today sought out by the world's leading value investors, and his client memos brim with insightful commentary and a time-tested, fundamental philosophy.

WITH AN INTRODUCTION BY HOWARD MARKS
Once upon a time, opium (the main ingredient of heroin) was easily available over the chemist's counter. The secret of happiness, about which philosophers have disputed for so many ages, could be bought for a penny, and carried in the waistcoat pocket: portable ecstasies could be corked up in a pint bottle. Paradise? So thought Thomas de Quincey, but he soon discovered that 'nobody will laugh long who deals