Shane interviews Howard Marks from Oaktree Capital on his podcast, The Knowledge Project with Shane Parrish. The episode aired on March 5, 2019 and is titled, Luck, Risk, and Avoiding Losers.

Below is not a direct quote, but it is pretty close to what was originally said.

We understand that we are going to sometimes make decisions that aren’t going to work and the people we work with are going to sometimes make decisions that aren’t going to work all the time either. We have a mentality that recognizes this and doesn’t criticize people every time something goes wrong and we try to hire people who aren’t terribly emotional or egotistical, who don’t have a lot of hubris or testosterone, and I think we try to have a mellow organization which is very helpful in all these regards.