306 results for "memo":

Showing 141 - 150 of 306 results

What Lies Ahead

A l l R i g h t s R e s e r v e d Memo to: OaktreeClients From: HowardMarks Re: WhatLiesAhead?, I must admit that I haven't been looking forward to writing a memo about the economic and investment implications of the attacks.
Quo Vadis?

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 : Q u o V a d i s ?, I've been cautious for a long time – in fact, I don't remember ever having written a bullish piece on stocks – and this memo is unlikely to be any different.
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., Since writing that memo, I’ve concluded that this way of thinking about things has a great many applications., In my memo What Really Matters?
Latest Thinking

All Rights Reserved Follow us: Memo to: Oaktree Clients From: Howard Marks Re: Latest Thinking Travel to clients abroad and preoccupation with my coming book on cycles (final draft submitted just the other day) have combined to keep me from writing a memo since September, but fortunately not from thinking., , some readers of my July memo, “There They Go Again . . ., In September I observed that the cautionary July memo hadn’t said much with respect to what people actually should do about the markets, and I tried to remedy that., All Rights Reserved Follow us:  As a result, we see a lot of the reaction that greeted my July memo: “the market’s expensive, but I think it has further to go.”, I wrote that in 1997, in a clients-only memo entitled “Are You an Investor or a Speculator?”
Returns Absolute Returns and Risk

A l l R i g h t s R e s e r v e d Memo to: OaktreeClients From: HowardMarks Re: Returns,AbsoluteReturns and Risk UWhat’s In a Name?, According to the article that inspired this memo, “Today, the term ‘absolute return’ seems to be used most often to describe what wealthy individual investors have always called hedge funds.”, When I wrote the memo “Risk” in February, I thought I had hit on something when I observed that risk is not measurable even after the fact.
Lessons from Silicon Valley Bank

A Word on Regulation In March 2011, in the aftermath of the GFC, I published a memo called On Regulation ., Combine developments like these with the reality that (a) interest rates are no longer declining or near zero; (b) the Fed can’t be as accommodative as it was in the last few crises, because of today’s elevated inflation; and (c) negative developments are popping up in portfolios, and I think the case made in my previous memo, Sea Change (December 2022), has been bolstered., * * * While I don’t foresee widespread contagion – either psychological or financial – arising from the SVB failure alone, I can’t end a memo on U.S. banks without mentioning one of the biggest worries they face today: the possibility of problems stemming from loans against commercial real estate (“CRE”), especially office buildings.
Risk and Return Today

A l l R i g h t s R e s e r v e d Memo to: OaktreeClients From: Howard M a rks Re: RiskandReturn Today A single word is enough to describe the overall investment world today: lackluster., In response, I wrote a piece called “The Cat, the Tree, the Carrot and the Stick” as part of my memo “What’s Going On?”, In my memo “What’s Your Game Plan” on investing and sports (September 5, 2003), I mentioned the importance of “playing within yourself,” or “not trying to do things you’re not capable of, or things that can’t be accomplished within the environment as it exists.”
On the Other Hand

All Rights Reserved Follow us: Memo to: Oaktree Clients From: Howard Marks Re: On the Other Hand It often happens that just as I’m about to release a memo, I come across something that absolutely has to be incorporated., I think the topic is very important, so much so that I’m now going to devote a memo to the subject of Fed interest-rate management
A Look Under the Hood

All Rights Reserved Follow us: Memo to: Oaktree Clients From: Howard Marks Re: A Look Under the Hood Over the last 56 years, I’ve spent a lot of time making suggestions to clients regarding their investment processes and portfolios, and I’ve been on the client side as a member of various investment committees., The content of the consultant’s session impressed me so much that I decided to write a memo about it., I’m not disclosing the names of the state and its consultant, for obvious reasons, but I’m very pleased that they agreed to let me use the content of the meeting as raw material for 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?