Tim MelvinJust when I suspect one of America's greatest investors might be digging through my mail… I become convinced he's doing it.
Howard Marks of Oaktree Capital lambasted index investing in his latest investor letter. In this, we're 1,000% agreed: Indexing is a silly, dangerous waste of time (unless you want sub-3% returns… minus fees).
An eagle eye for warding off popular con games like indexing is just one of the reasons Marks is worth about $1.9 billion. Clearly, he knows a thing or two about grabbing unreasonably high returns.
He warned his readers about another return-sapping scheme out there on Wall Street.
It's one I've compared to buying a "ticket on the Hindenburg" and thinking you signed up for a walking tour of the Chicago Botanic Garden.
This is worth a second look – because Marks is actually pointing us toward a much, much more profitable way to invest.
It's an approach I've mastered and profited immensely with for years – and so can you…
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