306 results for "memo":

Showing 111 - 120 of 306 results

Conversation at Panmure House

In the late ’90s, I wrote a memo called What's It All About, Alpha?, In the spring of 2007, I wrote a memo called The Race to the Bottom., PS: I’d like to talk more about the memo Investing Without People., In the memo Investing Without People, there are three sections., The conversation on pp. 7-8 of this memo is for illustrative purposes only.
The Illusion of Knowledge

It was that lunch that started me thinking about writing yet another memo on the futility of macro forecasting., Shortly after starting on this memo, I received my regular weekly edition of Morgan Housel’s always-brilliant newsletter., I found Ferguson’s article so relevant to the subject of this memo that I’m including a link to it here., At the lunch described at the beginning of this memo, people were asked what they expected in terms of, for example, Fed policy, and how that influenced their investment stance., * * * In a 2001 memo called What’s It All About, Alpha?
Something of Value

I’ve heard a variety of views, and while I have my own, I don’t want to make it the subject of this memo., The Value Mentality in Action Back in 2017, my memo There They Go Again . . ., Back to the Original Question I’ll move toward ending this memo by turning to the question I mentioned at the outset: Is the recent underperformance of value investing a temporary phenomenon?, My conversations with Andrew over the ten months of the pandemic have represented a “voyage of discovery” and culminated in this memo., I hope you’ll find this memo interesting and helpful, and I wish you all the best in 2021.
Economic Reality

All Rights Reserved Follow us: Memo to: Oaktree Clients From: Howard Marks Re: Economic Reality Addendum, June 13: There’s been a lot of response since the memo that follows was originally published on May 26., That’s what caused me to write the memo: in politics and government – unlike the real world – the word “or” often goes out the window, replaced by “and.”, I wrote this memo to help readers understand why, The realities of economics are the subject of this memo., * * * Of course, this leads me to the idea that probably did more than any other to set the wheels in motion for this memo: “we’ll bring back the jobs.”
Political Reality Meets Economic Reality

All Rights Reserved Follow us: Memo to: Oaktree Clients From: Howard Marks Re: Political Reality Meets Economic Reality In 2016 I wrote Economic Reality (in May) and Political Reality (in August), two memos covering subjects I thought were important and timely., The purpose of this memo is to describe what happens when political behavior collides with economic reality, as illustrated in one area where the government is taking steps – tariffs – and another in which debate among politicians is heating up – restrictions on the capitalist system., While populism is somewhat amorphous, here’s a definition for the purposes of this memo: A political philosophy supporting the rights and power of the people in their struggle against the privileged elite., And thus this section of my memo., All Rights Reserved Follow us:  On January 24, just under the wire for inclusion in this memo, Elizabeth Warren took the issue of differential taxation to its ultimate extreme: a wealth tax.
"Risk in Today's Markets" Revisited

A l l R i g h t s R e s e r v e d Memo To: Clients From: HowardS.Marks,TCW Re: "RiskinToday's Markets" Revisited Seven weeks ago, we put out a memorandum entitled "Risk in Today's Markets.", It is the purpose of this follow-up memo to review the developments of the intervening time period, attempting to make sense out of what has happened and searching for lessons that can be drawn., Hedge funds occupied a meaningful part of our February 17 memo because they were felt to exemplify (to a power of ten) the risk-tolerant behavior of investors in general.
Notes from New York

A l l R i g h t s R e s e r v e d Memo to: OaktreeClients From: HowardMarks Re: Notesfrom New York Maybe you've already read enough about last week's events, in which case you should feel free to discard this memo., I had no plans for a memo on this subject., This memo may not include much that is new to you but, as usual, I will attempt to pull together my own thoughts and what I've heard and read elsewhere.
More on Repealing the Laws of Economics (Audio)

In his latest memo, Howard Marks discusses the implications of governmental intervention in economies.
The Pendulum in International Affairs (Audio)

Howard Marks’s latest memo connects two seemingly unrelated trends – Europe’s energy dependence and U.S. offshoring – to explain why the pendulum of companies’ and countries’ behavior may be swinging away from globalization and toward onshoring.
The Rewind - You Can't Predict. You Can Prepare.

Howard looks back on this memo, originally published on November 20, 2001.