# Ep 471. Howard Marks’ Memo: The Calculus of Value

Page: https://stenobird.com/podcast/focused-compounding-608401/ep-471-howard-marks-memo-the-calculus-of-value
Text version: https://stenobird.com/podcast/focused-compounding-608401/ep-471-howard-marks-memo-the-calculus-of-value.md
Podcast: [Focused Compounding](https://stenobird.com/podcast/focused-compounding-608401)
Published: 2025-08-29T19:25:04+00:00
Episode link: https://focusedcompoundinginvest.podbean.com/e/ep-471-howard-marks-memo-the-calculus-of-value/
Audio file: https://mcdn.podbean.com/mf/web/iimkwbtm77adpzss/8_29_25_Pod_Final.mp3
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JSON: https://stenobird.com/v1/public/podcasts/focused-compounding-608401/episodes/ep-471-howard-marks-memo-the-calculus-of-value
Duration seconds: 2611

## Resource

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## Transcript

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