🐺8 Vital Lessons from the Master of Stealth Wealth

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I'm obsessed with finding people who are the epitome of "stealth wealth."

This is Howard Marks.

Multi-billionaire and co-founder of Oaktree Capital Management.

Here are 8 lessons you can learn from him to become quietly wealthy:

"The secret to success is not knowing concepts, but being able to implement them."

"If you want to succeed, you have to be comfortable being different."

The majority of people are broke, live paycheck to paycheck, and have credit card debt.

If you want to become wealthy, you have to avoid keeping up with the Joneses and buying things because they're "trendy."

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"As soon as there's a profit you should take some of it off the table seems like a huge mistake."

"The most successful investors I know are those who do not flaunt their wealth but focus on long-term value."

Before you buy something, ask yourself: what will I think of this in 6 months?

If you'll regret it, don't buy it.

"The greatest risk in investing is believing that there is no risk."

There's risk in everything you do. There's even risk in taking a walk down the street.

The key is to be aware of these risks and be sure not to take any necessary risks for the sake of appearing wealthy.

"You do well if you have the humility to know that you don’t know everything."

Overconfidence leads to mistakes.

Be humble enough to ask questions when necessary and don't pretend to know things you don't.

"The road to long-term investment success runs through risk control more than through aggressiveness."

Patience is an investor's best friend. Impatience will lead to mistakes.

Stealth wealth doesn't happen overnight. It takes years.

"We don’t need to predict the future; we just need to be prepared for it."

People who build stealth wealth do it slowly over time.

They don't get caught up in worrying about the future... because they're prepared for it no matter what comes.

"There are old investors, and there are bold investors, but there are no old bold investors."

Flashy, risky moves may make you rich quick... but quick money never lasts.

Choose wise and timeless investing over flashy every day of the week.

There you have it!

8 lessons from one of the kings of stealth wealth, Howard Marks.

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