“Investment success doesn’t come from buying good things, but rather from buying things well”
— Howard S. Marks
Simplified Meaning:
To be successful in investing, it's not just about choosing popular or seemingly good investments. Instead, it's about making smart decisions on what to buy and when to buy it. Imagine you want to buy a car. If you buy the most popular car without considering its price or your budget, you might end up spending too much and not getting good value. But if you find a reliable car that’s priced lower than its true worth, you’ve made a wise purchase. In investing, it's similar. You have to look for opportunities where you can get more value for your money, rather than simply following trends. This approach requires thorough research and patience. By carefully analyzing and timing your investments, you can achieve greater success and improve your financial health.