4th Quarter 2014
“There are old investors, and there are bold investors, but there are no old bold investors” — Howard Marks, from “The Most Important Thing"
To our clients and friends:
The above quote is taken from legendary investment guru, Howard Marks. The full title of his book is: “The Most Important Thing: Uncommon Sense for the Thoughtful Investor”. The message he sends is that investors who are truly successful prioritize the importance of addressing investment risk head-on. In designing a portfolio, they diversify their investments well. They often emphasize a “value investing” orientation.
We all know “investors” you meet at a cocktail party who ignore downside risk entirely. They may even act recklessly. Some of them stick their entire portfolio into a single stock, hoping to hit the lottery. Then when the market heads south, taking virtually every stock down with it, they wonder why the market has treated them so badly.
About the Author
Fama Fiduciary Wealth LLC is an SEC-Registered Investment Advisory firm originally established in 2001 under the name of Andrew J. Fama Asset Management. With over 30 years of experience representing financial institutions, businesses and individuals, Mr. Fama understands the risks inherent in all types of investments.
To learn more about Andrew J. Fama click here.