303 results for "memo":
Showing 171 - 180 of 303 results
The Complete Collection
And that’s the point of this memo., That’s what this memo is about., But I think it’s worth a memo., And thus this section of my memo., In my memo What Really Matters?
The Roundup: Top Takeaways from Oaktree’s Quarterly Letters - June 2023 Edition
As a bonus, we’ve also included an excerpt from Howard Marks’s recent memo to clients. 1 Market Outlook: Tug-of-War Howard Marks Co-Chairman The overarching theme of my sea-change thinking is that, largely thanks to highly accommodative monetary policy, we went through unusually easy times in a number of important regards over a prolonged period, but that time is over., Thus, after decades of accommodative monetary policy, cheap debt, and robust equity returns, we may now be entering a new era, as our co-chairman Howard Marks eloquently described in his 2022 memo Sea Change.
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?
The Folly of Certainty
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., , has supplied an interesting tidbit for this memo on the subject of economists’ conclusions: I use the Philly Fed’s Anxious Index (the probability of a decline in real GDP in the upcoming quarter) as an indicator that a recession has ended., 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., 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.
Will It Be Different This Time
A l l R i g h t s R e s e r v e d Memo to: OaktreeClients and Friends From: Howard Marks Re: WillItBeDifferentThisTime?, Nevertheless, 51 of the 53 "top economists" surveyed by Blue Chip newsletter (my favorite experts and the subject of my July 22, 1996 memo) predict growth next year of 1.5% or more.
Down to the Wire
Memo to: OaktreeClients From: Howard M a r k s R e : DowntotheWire Here are the ingredients in the plot: A problem everyone’s aware of., I’ve decided to devote a memo to the debt issue and its significance.
Hey Steward!!
A l l R i g h t s R e s e r v e d Memo to: OaktreeClients From: HowardMarks Re: Hey,Steward!!, My October memo “The Feeling’s Mutual” argued that late trading wasn’t the worst thing going on in the mutual fund industry., [Before I go further, I want to do something I failed to do in October: make clear that neither my earlier memo nor this one is intended as a universal indictment of the mutual fund industry.
What Can We Do for You?
Memo to: Oaktree Clients From: Howard Marks Re: What Can We Do For You?, Oaktree on Market Timing This memo provides an ideal opportunity for me to discuss Oaktree’s position on these matters and address some potential inconsistencies., Thoughts on Portfolio Positioning I’m going to use the context of this memo to set out a way of thinking about portfolio structuring that I’ve developed recently, and to show how I would apply it today.
Gimme Credit
Ever since interest rates got up off the floor in 2022, there’s been increased interest in credit, and that’s why I’m devoting this memo to it., I’ve written so much about this that I’m not going to belabor it further (see my memo Ruminating on Asset Allocation, October 2024), but I’m always available to talk., Credit Versus Equities I’ve written about equity valuations – primarily referencing the Standard & Poor’s 500 – as recently as this January in my memo On Bubble Watch.
How Quickly They Forget
Memo to: Oaktree Clients From: Howard Marks Re: How Quickly They Forget In January 2004 I received a letter from Warren Buffett (how’s that for name dropping?), And that’s the point of this memo., Market Conditions Today In May 2005, I wrote a memo entitled “There They Go Again,” complaining that investors were taking excessive comfort from mindless platitude of the type that accompany and abet the creation of every bubble., In particular, in the 30 months following the publication of that memo, high yield bonds went on to return a total of 19.7%., Prudent Behavior in a Low-Return World The 2005 memo I mentioned earlier, “There They Go Again,” proceeded from the discussion of the low and flat risk/return curve contained in “Risk and Return Today” to ponder what investors might do in times of low prospective returns and risk premiums.