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Oaktree Conference 2024 Edition

Oaktree co-chairman Howard Marks does a deep dive into his sea change thesis, members of Oaktree’s Global Credit team examine the most significant trends impacting the high yield bond and leveraged loan markets, and Oaktree’s Opportunistic Credit team explores key themes reshaping today’s restructuring environment.

Shall We Repeal the Laws of Economics? (Audio)

In his latest memo, Howard Marks discusses the economic facts of life, as he examines the workings of free markets and what happens when they’re tampered with.

The Best of . . .

A curated compilation of the memos Howard considers to be the most impactful., Howard Marks October 12, 2025 The Route to Performance October 12, 1990 The Route to Performance is the first memo I wrote.

Life Sciences Direct Lending: Just What the Doctor Ordered

.” - Howard Marks, The Most Important Thing The life sciences industry has been a hero in the fight to end the Covid-19 pandemic, as vaccines developed in record time have provided hope to a locked-down world., Instead we believe it’s important to engage in what our co-founder Howard Marks calls second-level thinking – or eschewing easy answers in favor of complex and unconventional questions.

Performing Credit Quarterly 1Q2023

In the first episode of Oaktree’s new podcast, Armen Panossian (Head of Performing Credit) and Howard Marks (Co-Chairman) discuss key themes from the 1Q2023 Performing Credit Quarterly, including the potential fallout from the end of the easy money era and opportunities in private credit.

Taking the Temperature (Audio)

In his latest memo, Howard Marks discusses five market calls he’s made during his career.

AI Hurtles Ahead (Audio)

In his latest memo – occasioned by massive changes he cites in just the 11 weeks since the last one – Howard Marks revisits the subject of AI, providing his observations on its essence and how it differs from previous technological innovations.

The Roundup: Top Takeaways From Oaktree's Quarterly Letters - 3Q2022

Being able to identify where we stand in a cycle – and the likelihood of a turn – is critical if investors wish to adjust their risk postures appropriately and “tilt the odds in their favor,” as Howard Marks has written., Plus, as a bonus, we’ve included an unreleased excerpt from Howard’s recent interview about assessing risk posture. 1 Risk Posture: It Depends Howard Marks Co-Chairman Determining the appropriate risk posture for a given point in time is more complex than most people think.

What’s Going on in Private Credit?

In his latest memo, Howard Marks discusses the evolution of the sub-investment grade credit market from its beginnings in the 1970s to its present state.

What’s Going on in Private Credit? (Audio)