265 results for "memo":
Showing 141 - 150 of 265 results
Fewer Losers More Winner
All Rights Reserved Follow us: Memo to: Oaktree Clients From: Howard Marks R e: Fewer Losers, or More Winners?, My memos got their start in October 1990, inspired by an interesting juxtaposition between two events., 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 Anatomy of a Rally
All Rights Reserved Follow us: Memo to: Oaktree Clients From: Howard Marks Re: The Anatomy of a Rally The background is well known to all, The possible reasons for the markets’ recovery are many and, as I write this memo, the list is growing as people find more things to take positively., Especially given their appeal to my cautious bias, I’ve done so plenty in recent memos., In my memo, On the Couch (January 2016), I wrote that: That’s one of the crazy things: in the real world, things generally fluctuate between “pretty good” and “not so hot.”, This memorandum is being made available for educational purposes only and should not be used for any other purpose.
The Folly of Certainty
It’ll be another of my “shortie” memos given the uncertain shelf life of the Biden candidacy., One is the extreme brevity of the financial memory. ” I often cite this factor, too, While these memos were on one of my favorite topics, they generated little response., Similarly, this past Saturday’s women’s final match at Wimbledon has provided a snippet for this memo., This memorandum is being made available for educational purposes only and should not be used for any other purpose.
The Winds of Change
Yet there are changes taking place, and they’ll be the subject of this memo., All Rights Reserved Follow us: In my January memo, Something of Value, I described some of the changes technology is making in the business world., But it has to be part of a memo that purports to discuss important changes that are underway., This memorandum is being made available for educational purposes only and should not be used for any other purpose., This memorandum, including the information contained herein, may not be copied, reproduced, republished, or posted in whole or in part, in any form without the prior written consent of Oaktree
investing-in-real-asset-today
Any offer of securities or funds may only be made pursuant to a confidential private placement memorandum, subscription documents and constituent documents in their final form.
The LME Wave
In a recent memo revisiting a subject he wrote about 25 years ago, co-chairman Howard Marks outlines why he believes a bubble is more a psychological state than a quantitative calculation: In my view, a bubble not only reflects a rapid rise in stock prices, but it is a temporary mania characterized by – or, perhaps better, resulting from – the following: highly irrational exuberance (to borrow a term from former Federal Reserve Chair Alan Greenspan), outright adoration of the subject companies or assets, and a belief that they can’t miss, massive fear of being left behind if one fails to participate (‘‘FOMO’’), and resulting conviction that, for these stocks, “there’s no price too high.”
Leaning Toward Value: Emerging Markets Equities After the Pandemic
Howard Marks, our co-chairman, penned these lines in his recent memo “Something of Value” (January 11, 2021), critiquing the often oversimplified distinction between value and growth investing.
Selling Out
As I’m now in my fourth decade of memo writing, I’m sometimes tempted to conclude I should quit, because I’ve covered all the relevant topics., Then a new idea for a memo pops up, delivering a pleasant surprise., Origins Much of what I’ll write here got its start in a 2015 memo called Liquidity., That memo evoked the strongest reaction from readers of any of my memos to date., This memorandum is being made available for educational purposes only and should not be used for any other purpose.
The Indispensability of Risk
That’s why I’ve written a memo comparing investing to sports in each of the four decades I’ve been writing memos and one connecting investing and card playing in 2020., Few people know that Bruce is a chess player, and I hadn’t thought about this fact for years, but the article provided a good reminder and moved me to dash off this memo., Relevant lessons from sports (included in past memos) are easily accessed and also very helpful: “You miss 100% of the shots you don’t take.” – Wayne Gretzky, NHL Hall of Famer “You have to give yourself a chance to fail.” – Kenny “The Jet” Smith, two-time NBA champion I’ll sum up with a paragraph from my memo of last September, Fewer Losers, or More Winners?, April 17, 2024 Legal Information and Disclosures This memorandum expresses the views of the author as of the date indicated and such views are subject to change without notice., This memorandum is being made available for educational purposes only and should not be used for any other purpose.
Performing Credit Quarterly 1Q2023: Flight Risk
As our co-chairman Howard Marks noted in his most recent memo: When investors think things are flawless, optimism rides high and good buys can be hard to find.