303 results for "memo":
Showing 131 - 140 of 303 results
Mr. Market Miscalculates
All Rights Reserved Follow us: Memo to: Oaktree Clients From: Howard Marks Re: Mr., I referred them to my 2016 memo On the Couch., I wrote over 33 years ago, in only my second memo: The mood swings of the securities markets resemble the movement of a pendulum. . . ., It’s highly applicable to the market tremor that inspired this memo.
Fewer Losers More Winner
All Rights Reserved Follow us: Memo to: Oaktree Clients From: Howard Marks R e: Fewer Losers, or More Winners?, This time, in my fourth decade of memo -writing, I’m going to devote a few more paragraphs to tennis., In my memo Liquidity (March 2015), I included an insight from my son Andrew., The Role of Risk Bearing I’m going to conclude this memo using my favorite graph., In my memo What Really Matters?
The Best of . . .
Howard Marks October 12, 2025 The Route to Performance October 12, 1990 The Route to Performance is the first memo I wrote., The Realist’s Creed May 31, 2002 This memo serves as an acknowledgement that “I don’t know” is often the only reasonable refrain., This memo reflects my thoughts on how investment management clients might best pursue superior results., All That Glitters December 17, 2010 This memo incorporated all my thoughts about investing in gold., This memo explains that buying at a fair price doesn’t generate alpha – it’s buying at an unreasonably low one that does.
Growing the Pie
Most of my January memo, Political Reality Meets Economic Reality, was devoted to fretting over the rise of populism from the left and the resulting anti-capitalist sentiment, and it has risen further since., In the January memo, I set forth my view that in the last 10-20 years, the rising economic tide had stopped lifting all boats., Ray Dalio and Bridgewater actually beat my memo by two days, publishing on January 28 an excellent note titled Populism + Weakening Economy + Limited Central Bank Power to Ease + Elections = Risky Markets and Risky Economies., In my January memo, I argued at length that capitalism can be credited with much of what made the United States what it is today., A lot of readers enjoyed the story in my January memo about the ten men who drank beer in a bar every night, with each paying according to his ability.
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.
More on Repealing the Laws of Economics (Audio)
In his latest memo, Howard Marks discusses the implications of governmental intervention in economies.
Is It a Bubble? (Audio)
In his latest memo, Howard Marks addresses the much-asked question, “Is there a bubble in AI?”
Cockroaches in the Coal Mine (Audio)
In his latest memo, Howard Marks examines the recent string of well-publicized credit problems.
Gimme Credit (Audio)
In his latest memo, Howard addresses a common question he’s been receiving over the last few months: “what about credit spreads?”
Dare to Be Great
Memo to: OaktreeClients From: Howard M a r k s R e : DaretoBeGreat Inoneofthemost colorful vignettes of the early 1970s, Glenn Turner, the head of Koscot Interplanetary, would fly into a small Midwestern town in his Learjet (when that was a huge deal)., This memo stems from an accumulation of thoughts on the subject of how investment management clients might best pursue superior results., Typically my thoughts pile up, and then something prompts me to turn them into a memo., * * * I hope this memo won’t come across as preachy.