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Howard Marks on living your own way: interview summary

I'm 80 and I wasted 25 years of my life. Don't make my mistake. - Howard Marks

My First Million · Jul 15, 2026 · about 45 min

Uploaded Jul 15, 2026 · 360K views (as of Oct 30, 2026)

Good value given

Marks says he spent about 25 years not living his own way.
That lasted until about 1995, when he left to start Oaktree.
His advice: play to your strengths, avoid weaknesses, be happy.
He says if you wait until there's nothing to fear, the opportunity has passed.
His first book grew from a sample chapter he hadn't planned.

What does Howard Marks advise young people about choosing their path?

He tells them to find something that plays to their strengths, avoids their weaknesses and makes them happy. That sounds obvious, but he says it means you can't let friends or society decide what you should do. You have to figure out who you are.

Worth watching?Good value given. A reflective talk on living your own way, risk and writing. Marks's advice on choosing work is the highlight.

ActionableLessons

Actionable

Write your strengths, weaknesses and what makes you happy.
List one choice you made because friends did.
Act on one opportunity before every fear is gone.
Write a short memo on what you believe about your field.

Lessons

Live your own way.
Fear often marks opportunity.
Strengths should guide careers.
Writing clarifies thinking.

Quick answer

Howard Marks sat down with My First Million for this interview, published Jul 15, 2026. Here's our summary in our own words: a verdict, the answer to the big question, 5 takeaways, Actionable and Lessons tabs, then the stories, frameworks and how to use them.

What 125x is: 125x is a web app at 125x.app. You connect your YouTube subscriptions, and it gives you a feed of the latest videos from the channels you follow, each with a summary: a verdict, the 5 key takeaways, and the spoiler, plus Actionable and Lessons tabs with more tips. You read that and decide what's actually worth opening.

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Watch the interview

Watch on YouTube: I'm 80 and I wasted 25 years of my life. Don't make my mistake. - Howard Marks

Channel: My First Million. Published Jul 15, 2026. About 45 minutes.

Who is Howard Marks?

Howard Marks co-founded Oaktree Capital Management and is known for his investor memos.

This is an episode of the My First Million podcast.

Key stories from the interview

He reflects on his years of drifting.
He tells how The Most Important Thing began.
He explains what goes into raising a large fund.
He shares his view of AI.

Frameworks and ideas

Strengths, weaknesses, happiness.
Your own way.
Opportunity and fear.
Write to think.

In their words (paraphrased)

If you wait until you have nothing to be afraid about, probably the opportunity has passed.
Try to find something that will play to your strengths, avoid your weaknesses, and make you happy.
You can't let your friends decide what you should do.

How to apply this

Write down who you are in five lines.
Name one fear holding back a good move.
Draft one memo on your work this month.

A note on this summary

This page reports what was said in the interview, in our own words. Lines under 'In their words' are paraphrased from the transcript, so check the video for exact wording.

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FAQ: questions people ask

What does Howard Marks say about choosing a career?

Find something that plays to your strengths, avoids your weaknesses and makes you happy.

What does Marks say about fear and opportunity?

If you wait until there's nothing to fear, the opportunity has likely passed.

Is the Howard Marks My First Million interview worth watching?

Good value given. Reflective and wise.