Howard Marks: Greatness Comes From What You Don't Buy

Recently, Oaktree Capital Management co-chairman Howard Marks went to Google to talk about the investment philosophy that has brought him so much success, and like many other successful value investors he places a lot more emphasis on avoiding bad deals than on finding good ones.â??If youâ??re a decision-maker you have to survive long enough for the correctness of your decision to become evident,â? says Howard Marks. â??Overpriced is not the same as going down tomorrow.â?