Attitude Towards Debt from Howard Marks and Morgan Housel

This episode offers a comparative analysis of the investment philosophies of Howard Marks and Morgan Housel, two prominent figures in modern finance. It explores their individual doctrines on risk management, market cycles, behavioral psychology, and particularly, their perspectives on debt. Marks, an analyst, emphasizes second-level thinking and optimizing leverage in volatile markets, while Housel, a storyteller, prioritizes behavioral endurance, the power of compounding over time, and the pursuit of financial freedom through minimizing debt. The text ultimately synthesizes their views, proposing a unified framework for investors that integrates both the analytical rigor of Marks and the psychological wisdom of Housel.

📚 Value Investing Books Recommendation

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Warren Buffett

The Snowball: Warren Buffett and the Business of Life

Kindle: https://amzn.to/3FVasqy

Hardcover: https://amzn.to/3HIfeZ2

Paperback: https://amzn.to/4kBjUOZ

Warren Buffett and the Interpretation of Financial Statements (by Marry Buffett)

Kindle: https://amzn.to/43Vr5dD

Hardcover: https://amzn.to/4n6yNus

Paperback: https://amzn.to/45XBBDL

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Charlie Munger

Poor Charlie’s Almanack

Kindle: https://amzn.to/3Zsw9VB

Hardcover: https://amzn.to/4jMExq7

Collector's Edition: https://amzn.to/3SRgsn7

Tao of Charlie Munger

Kindle: https://amzn.to/4nk0akT

Hardcover: https://amzn.to/44eq8OR

Influence, New and Expanded: The Psychology of Persuasion

Kindle: https://amzn.to/4619DqL

Hardcover: https://amzn.to/40a8TMi

Paperback: https://amzn.to/40gtwq7

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Howard Marks

The Most Important Thing (Uncommon Sense for the Thoughtful Investor)

Kindle: https://amzn.to/3Tqb4Yg

Hardcover: https://amzn.to/3SRyy8A

Paperback: https://amzn.to/45ohdM0

Mastering The Market Cycle: Getting the Odds on Your Side

Kindle: https://amzn.to/3HXPmby

Hardcover: https://amzn.to/45X6AQq

Paperback: https://amzn.to/44oPGYP

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Money Philosophies

The Psychology of Money: Timeless lessons on wealth, greed, and happiness

Kindle: https://amzn.to/3FDbO9u

Hardcover: https://amzn.to/4kL3TGi

Paperback: https://amzn.to/44fpkcC

Limited Gift Version: https://amzn.to/4jYomGp

Same as Ever: A Guide to What Never Changes

Kindle: https://amzn.to/3HXBJcp

Hardcover: https://amzn.to/4l7vPno

Paperback: https://amzn.to/4k2ZHRe

The Almanack of Naval Ravikant: A Guide to Wealth and Happiness

Kindle: https://amzn.to/4lx2a7F

Hardcover: https://amzn.to/4kGX5tf

Paperback: https://amzn.to/3ZEMXsC

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Classic Principles

The Intelligent Investor

Kindle: https://amzn.to/45T9OEv

Hardcover: https://amzn.to/4l4f7W3

Paperback: https://amzn.to/43ZNyXb

Security Analysis, Seventh Edition: Principles and Techniques

Kindle: https://amzn.to/442yKak

Hardcover: https://amzn.to/3TmEEhg

Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor

Collector Edition: https://amzn.to/4lrgWNd

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Disclaimer: All analysis is based on publicly available sources and may be subject to revisions or differing interpretations. The content is for educational purposes only and does not constitute investment advice. Conduct your own due diligence before making investment decisions. Like and Subscribe us on Apple, Spotify Podcasts or Youtube channel: Deep Value Investing! Don’t forget to take the book list of value investing from the episode description!