286 results for "memo":
Showing 111 - 120 of 286 results
The Role of Confidence
That’s what this memo is about., Confidence Today Back in September, I wrote a memo entitled “On Uncertain Ground.”, In mid-2007 I was working on a memo with the projected title “The Mother of All Cycles.”, In the memo I complained that every asset class, every asset and every region was appreciating., Thus that memo was followed by “It’s All Good . . .
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.
Investment Miscellany
A l l R i g h t s R e s e r v e d Memo to: OaktreeClients From: HowardMarks Re: Investment Miscellany Because I've been encouraged by the response to my “bubble. com” and venture capital memos, I'm going to keep writing., Glassman's name may be familiar to you, because my memo of May 1, 2000 took issue with “Dow 36,000,” a book he co-authored., As I wrote in my May memo, investors rapidly incorporate new information into their estimates of security values, and the market rapidly reflects the consensus view of values,...but that doesn't mean the consensus is right.
Transcript - The Insight Conversations - Howard Marks and Annie Duke
Howard’s 2020 memo, Yo u B e t !, This idea also features quite prominently in Howard’s memo, Yo u B e t !, I took a look at the memo, Yo u B e t !, Howard I was going to say it was the last memo before lockdown., What I said in the memo was, it’s easy to predict what you think is going to happen.
Knowledge of the Future
All Rights Reserved Follow us: Memo to: Oaktree Clients From: Howard Marks Re: Knowledge of the Future As I showed by using it again in last week’s memo, I was impressed by the observation of Marc Lipsitch, Harvard epidemiologist, that there are (a) facts, (b) informed extrapolations from analogies to other viruses and (c) opinion or speculation., I chose the title of this memo because it’s such an oxymoron: there’s practically no such thing as meaningful knowledge regarding the future investment environment., Thus, this memo will be about some things people think they know but may not.
Everyone Knows
A l l R i g h t s R e s e r v e d Memo to: OaktreeClients From: HowardMarks Re: EveryoneKnows _____________________________________________________________________________ par·a·doxn1aseemingly absurd or self-contradictory statement that is or may be true . . . 4 an opinion that conflicts with common belief., I’ve been saving up ideas for a memo about how often the investing herd is wrong and accepted wisdom should be bet against.
Doesn't Make Sense
A l l R i g h t s R e s e r v e d Memo to: OaktreeClients From: Howard M a r k s R e : Doesn’tMakeSense Academics have their theories about market efficiency., In a memo several years ago, I listed a few phrases that have sunk into obscurity over the course of my career.
No Different This Time – The Lessons of ‘07
A l l R i g h t s R e s e r v e d Memo to: OaktreeClients From: Howard M a r k s R e : NoDifferentThisTime – The Lessons of ‘07 On July 16, I published a memo called “It’s All Good.”, The bullish balloon remained unpunctured as of July 16, and some may have thought my memo unduly pessimistic., I don’t doubt that it is, and for that reason his statement calls to mind a 2005 memo titled “Hindsight First, Please (or, What Were They Thinking?).”, In August 1996, I wrote a memo showing that in the Wall Street Journal’s semi-annual poll of economists, on average the predictions are an extrapolation of the current condition.
Whodunit
A l l R i g h t s R e s e r v e d Memo to: OaktreeClients From: Howard M a r k s R e : Whodunit w h o · d u n · i t – ( h ō ō d u n ´ i t ) n . a n a r r a t i v e dealing with a murder or a series of murders and the detection of the criminal (The Random House Dictionary of the English Language) The subprime crisis, credit crunch and possible recession are subjects of daily conversation., It’s the purpose of this memo to say where I think responsibility lies., William Conway of Carlyle Group attracted a lot of attention – but perhaps not all he deserved – for a January 2007 memo to his Carlyle colleagues, in which he wrote: As you all know (I hope), the fabulous profits that we have been able to generate for our limited partners are not solely a function of our investment genius, but have resulted in large part from a great market and the availability of enormous amounts of cheap debt. . . ., My wife Nancy says she likes this memo more than most, because the lesson is so easy to understand.
The Folly of Certainty
Memo to: Oaktree Clients From: Howard Marks R e: The Folly of Certainty The impetus for my memos can come from a wide variety of sources., And, with that, I had the subject of this memo: not whether Biden will continue campaigning or drop out – or whether he’ll win if he continues – but rather how anyone can be without doubt., Back in mid-2020, when the pandemic seemed to have become a more or less understood phenomenon, I slowed the pace of my memo writing from the one-a-week pattern of March and April., A L L R I G H T S R E S E R V E D P.S.: Last summer’s Grand Slam tennis tournaments provided the inspiration for my memo Fewer Losers, or More Winners?, Similarly, this past Saturday’s women’s final match at Wimbledon has provided a snippet for this memo.