*Investing Guide:* https://clickhubspot.com/1npk
Episode 841: Sam Parr ( https://x.com/theSamParr ) and Shaan Puri ( https://x.com/ShaanVP ) talk to legendary investor Howard Marks about AI and making decisions in the face of fear and uncertainty.
—
Show Notes:
(0:00) AI Hurtles Ahead
(8:26) second level thinking
(10:21) investing through the end of the world
(14:47) raising $11B at a time of crisis
(17:54) investing with fear
(20:22) the key to a successful partnership
(25:01) being a good father
(27:37) only 1 success: to live your life your way
(34:17) Having lunch with Warren Buffett
(37:18) What people don't know about Buffett
(39:37) cigar butt investing
(41:35) recommended reading
—
Links:
• AI Hurtles Ahead - https://www.oaktreecapital.com/insights/memo/ai-hurtles-ahead
• A Short History of Financial Euphoria - https://www.amazon.com/History-Financial-Euphoria-Penguin-Business/dp/0140238565
• Fooled by Randomness - https://www.amazon.com/Fooled-Randomness-Hidden-Markets-Incerto/dp/0812975219
—
Check Out Sam's Stuff:
• Hampton (joinhampton.com): My community for founders. Average member does $25m/year. Many of the guests are members. Get after it...apply: http://joinhampton.com/mfm
—
Check Out Shaan's Stuff:
• Shaan's weekly email - https://www.shaanpuri.com
• Visit https://www.somewhere.com/mfm to hire worldwide talent like Shaan and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than US equivalents.
• Mercury - Shaan uses Mercury across all of his companies. you can too: http://mercury.com/
Mercury is a fintech company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column, N.A., Members FDIC
• I run all my newsletters on Beehiiv and you should too + we're giving away $10k to our favorite newsletter, check it out:
beehiiv.com/mfm-challenge
My First Million is a HubSpot Original Podcast // Brought to you by HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano /
Howard Marks Warning: if you invest like this, you're about to lose everything
Ever wonder why some investors keep risking everything in chaos, only to end up losing it all? Howard Marks warns that when you invest driven by fear or hype, you're setting yourself up for disaster. According to Marks, at times of crisis — like during market crashes or upheavals — some investors see opportunity, but many are paralyzed by panic. My First Million reports that Marks emphasizes second-level thinking — looking beyond the obvious — to spot real value when everyone else is scared. But here’s where it gets tricky: chasing the crowd’s panic often leads to catastrophic losses. Marks also points out that during extreme downturns, smart investors raise massive funds because they see opportunity others miss. So, what does this actually mean for you? It’s simple — don’t let fear drive your decisions. Instead, learn to think independently and stay calm when the world’s falling apart. Because, honestly, the biggest risk isn’t losing money — it's losing your mind in the chaos.
Audio Transcript
*Investing Guide:* https://clickhubspot.com/1npk
Episode 841: Sam Parr ( https://x.com/theSamParr ) and Shaan Puri ( https://x.com/ShaanVP ) talk to legendary investor Howard Marks about AI and making decisions in the face of fear and uncertainty.
—
Show Notes:
(0:00) AI Hurtles Ahead
(8:26) second level thinking
(10:21) investing through the end of the world
(14:47) raising $11B at a time of crisis
(17:54) investing with fear
(20:22) the key to a successful partnership
(25:01) being a good father
(27:37) only 1 success: to live your life your way
(34:17) Having lunch with Warren Buffett
(37:18) What people don't know about Buffett
(39:37) cigar butt investing
(41:35) recommended reading
—
Links:
• AI Hurtles Ahead - https://www.oaktreecapital.com/insights/memo/ai-hurtles-ahead
• A Short History of Financial Euphoria - https://www.amazon.com/History-Financial-Euphoria-Penguin-Business/dp/0140238565
• Fooled by Randomness - https://www.amazon.com/Fooled-Randomness-Hidden-Markets-Incerto/dp/0812975219
—
Check Out Sam's Stuff:
• Hampton (joinhampton.com): My community for founders. Average member does $25m/year. Many of the guests are members. Get after it...apply: http://joinhampton.com/mfm
—
Check Out Shaan's Stuff:
• Shaan's weekly email - https://www.shaanpuri.com
• Visit https://www.somewhere.com/mfm to hire worldwide talent like Shaan and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than US equivalents.
• Mercury - Shaan uses Mercury across all of his companies. you can too: http://mercury.com/
Mercury is a fintech company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column, N.A., Members FDIC
• I run all my newsletters on Beehiiv and you should too + we're giving away $10k to our favorite newsletter, check it out:
beehiiv.com/mfm-challenge
My First Million is a HubSpot Original Podcast // Brought to you by HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano /
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