Howard Marks
The Risk Management Thinker
1985 - present
Superior investing is about understanding risk better than others, not about taking more risk. Be contrarian - buy when others are fearful, sell when they are greedy. Second-level thinking separates the best investors from the rest.
Investment Approach
- 1Assesses risk/reward asymmetry - seeks high upside, limited downside
- 2Buys assets priced below intrinsic value with low risk
- 3Avoids crowded trades and consensus positions
- 4Focuses on asymmetric risk/reward profiles
Selection Criteria
Criteria derived from Howard Marks's published writings and investment principles.
Top 10 UK Equities - Howard Marks Strategy
Ranked by Howard Marks's risk asymmetry framework. Seeks favourable risk/reward with contrarian positioning.
| # | Ticker | Company | Sector | Mkt Cap | Asymmetry | EY Spread | Score | Verdict |
|---|---|---|---|---|---|---|---|---|
| 1 | BKGH | The Berkeley Group Holdings plc | Homebuilding | $3.9bn | 94.2 | 12.3% | 100.0 | false |
| 2 | JD | JD Sports Fashion PLC | Other Specialty Retail | $5.5bn | 79.9 | 6.3% | 99.6 | false |
| 3 | GAMA | Gamma Communications Plc | Alternative Carriers | $1.3bn | 75.9 | 5.0% | 99.3 | false |
| 4 | RMV | Rightmove PLC | Interactive Media & Services | $4.8bn | 75.4 | 2.8% | 98.9 | false |
| 5 | TW | Taylor Wimpey PLC | Homebuilding | $3.5bn | 75.3 | 10.3% | 98.6 | false |
| 6 | MONY | Mony Group PLC | Interactive Media & Services | $1.3bn | 74.6 | 6.6% | 98.2 | false |
| 7 | DNLM | Dunelm Group PLC | Homefurnishing Retail | $2.1bn | 73.8 | 5.8% | 97.8 | false |
| 8 | BTRW | Barratt Redrow PLC | Homebuilding | $5.6bn | 72.5 | 10.6% | 97.5 | false |
| 9 | HWDN | Howden Joinery Group PLC | Trading Companies & Distributors | $5.6bn | 70.6 | 2.8% | 97.1 | false |
| 10 | MGNS | Morgan Sindall Group PLC | Construction & Engineering | $2.5bn | 70.1 | 11.0% | 96.8 | false |
The Berkeley Group Holdings plc
JD Sports Fashion PLC
Gamma Communications Plc
Rightmove PLC
Taylor Wimpey PLC
Mony Group PLC
Dunelm Group PLC
Barratt Redrow PLC
Howden Joinery Group PLC
Morgan Sindall Group PLC
Disclaimer
This page applies Howard Marks's documented investment philosophy to UK-listed equities. Rankings and scores are illustrative and do not constitute investment advice. Past performance is not indicative of future results. Always conduct your own research before making investment decisions.