Howard Marks
Decision framework
A practical checklist for turning philosophy into action.
Beginner decision framework
When studying Howard Marks, convert the style into a clear process before using real capital. A process keeps decisions from being driven only by news or emotion.
Do I understand this asset or business?
What is the main edge or thesis?
What would prove me wrong?
If wrong, how much can I lose and can I recover?
Does this decision fit my time horizon and temperament?