298 results for "memo":
Showing 211 - 220 of 298 results
What Worries Me
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 : What Worries M e E s p e c i a l l y i n t i mes like these, people often ask what keeps me up at night., I’m not going to spend this memo discussing things as mundane as investment cycles, or as cosmic as environmental deterioration, global warming or terrorism., I hope this memo will be well received., But I hope this memo will raise some questions in readers’ minds and contribute to constructive debate., * * * I hope you’ll consider this memo constructive, and that it’ll inform or inspire debate.
More on Repealing the Laws of Economics
Last September, I wrote a memo titled Shall We Repeal the Laws of Economics?, Rent Control A prime example discussed in my September memo was rent control., On April 9, in my memo Nobody Knows (Yet Again), I guessed at President Trump’s goals in enacting them as follows: support U.S. manufacturing discourage imports encourage exports shrink or eliminate our trade deficit make supply chains more secure through onshoring deter unfair trade practices aimed at the U.S. force other countries to the negotiating table generate revenue for the U.S.
Cockroaches in the Coal Mine
As I mentioned in my memo Gimme Credit in March, the thing people have asked me about most often over the last few years is private credit., As I pointed out in my memo What Does the Market Know?, Investors’ risk tolerance grows, and they tend to focus less on due diligence and more on bidding aggressively for deals (see my memo The Race to the Bottom, February 2007)., One I haven’t mentioned since my memo The Long View in 2009 is the “bezzle,” a concept Galbraith introduced in his book The Great Crash 1929.
Volatility Leverage Dynamite
The last few years have provided a great demonstration of how dangerous it can be to combine leverage with risky assets, and that’s the subject of this memo., It’ll also pick up on some ideas from my last memo, “The Limits to Negativism.”, My memo “Plan B” on the bailout proposal went out on September 24, and as I lay in bed later that night, I realized that I hadn’t taken one part of it nearly far enough., That’s true as far as it goes, but I’m going to devote this memo to things which could have followed that paragraph., This memo calls on investors to gauge risk and use only appropriate leverage.
Time for Thinking
My memo writing followed suit: one a week for the first six weeks, and a total of ten over 18 weeks., After starting off at that rapid clip, I haven’t issued a memo in more than a month – which might seem like a long interval until you realize the norm in recent years has been only one per quarter., All Rights Reserved Follow us: the end of this memo for postscript in which I discuss the significance of that reported 32.9% decline.), And in a memo on this subject in June of last year, I wrote, “in areas like technology and digital business models, I’d bet things will be different more than the 20% of the time Templeton cited.”, However, thinking about the results in connection with writing this memo raised some questions: • I had immediately assumed Q2 GDP was down $1.81 trillion, or 32.9%, from Q2 of last year.
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?”
Cockroaches in the Coal Mine (Audio)
In his latest memo, Howard Marks examines the recent string of well-publicized credit problems.
Is It a Bubble? (Audio)
In his latest memo, Howard Marks addresses the much-asked question, “Is there a bubble in AI?”
Returns and How They Get That Way
Memo to: Oaktree Clients From: Howard Marks Re: Returns and How They Get That Way "Where do babies come from?", The Role of Luck To end this memo on returns, I want to spend a few pages discussing the part played by randomness (or luck or chance).
What's Behind the Downturn
Memo to: OaktreeClients From: Howard M a r k s R e : What’sBehindtheDownturn?, Thus I decided to take the occasion of my summer vacation to write a memo parsing the recent events and touching on the outlook.