Part 3/8:
Key Influences and Concepts
Marks draws inspiration from several influential writings that have shaped his investment approach. Among the most significant are:
"Fooled by Randomness" by Nassim Nicholas Taleb: This book introduces the idea that randomness plays a significant role in investing outcomes, cautioning that successful past results do not necessarily define skill.
"A Short History of Financial Euphoria" by John Kenneth Galbraith: Marks appreciates how Galbraith categorizes forecasters into those who know and those who don't know they don't know, highlighting the limitations of economic forecasting.