296 results for "memo":
Showing 221 - 230 of 296 results
All That Glitters
A l l R i g h t s R e s e r v e d 1 Memo to: OaktreeClients From: Howard M a r k s R e : AllThatGlitters In 1952, Noah S., Thus it serves well to introduce the topic of this memo: gold.
What's Your Game Plan
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’sYourGame Plan?, UFinding Your Role Model An article in the Wall Street Journal of August 8, entitled “Greatness in Our Midst,” supplied the immediate impetus for this memo., A l l R i g h t s R e s e r v e d UBack to Tennis for the Wrap-up Just as this memo was going into the home stretch, the Wall Street Journal’s Allan Barra greeted the start of the U.S.
On Uncertain Ground
Memo to: OaktreeClients From: Howard M a r k s R e : OnUncertainGround Theworld seems more uncertain today than at any other time in my life., I’m going to devote this memo to the uncertainty in the world and the investment environment and then offer my take on the appropriate strategy response., Each one deserves a memo, but – as I said – I’m trying to be economical with your time and attention, On January 10 of this year, I sent out a “clients-only” memo called “What Can We Do For You?”, I said in that memo that I had come up with three questions that might help in setting strategy
The Feeling's Mutual
A l l R i g h t s R e s e r v e d Memo To: OaktreeClients From: HowardMarks Re: TheFeeling's Mutual Throughout the recent, seemingly endless series of scandals, complaints, settlements, indictments and meltdowns involving corporations, auditors, brokerage firms, investment banks and hedge funds, the mutual fund industry remained untouched.
The Winds of Change
Yet there are changes taking place, and they’ll be the subject of this memo., In my January memo, Something of Value, I described some of the changes technology is making in the business world., In August 2008, on the way to ending my memo What Worries Me, I included a passage from the 2004 book Running on Empty by Pete Peterson (for those who weren’t in the business world in the 20th century, Pete held important positions in government and co-founded Blackstone with Steve Schwarzman): . . . while our problems are not yet intractable, both political parties are increasingly incorrigible., But it has to be part of a memo that purports to discuss important changes that are underway., Senior economics consultant Neil Irwin summed up our situation very well in The New York Times on April 16, 2020 (I borrowed this quote for inclusion in my May 2020 memo Uncertainty.): The world economy is an infinitely complicated web of interconnections.
First Quarter Client Performance
A l l R i g h t s R e s e r v e d Memo to: Clients From: Howard M a r k s T r u s t C o mpany of the West Re: FirstQuarter Performance The mood swings of the securities markets resemble the movement of a pendulum.
The Happy Medium
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: TheHappy Medium My second general memo to clients was dated April 11, 1991 and imaginatively titled “First Quarter Performance.”, (Emphasis added) Although I’ve learned a great deal in the time since that memo was published, I still think the paragraphs excerpted above capture almost the entire essence of market movements., In November 2001 I wrote a memo on this subject entitled “You Can’t Predict., The memo discussed some of the cycles that affect the investor: The economic cycle evidences moderate fluctuations (although their impact can be profound)., The theme of this memo will be that the cyclical phenomena that so heavily influence our investment outcomes aren’t caused by the operation of institutions or physical laws.
Microeconomics
A l l R i g h t s R e s e r v e d Memo to: Clients From: Howard M a r k s Re: Microeconomics 101: Supply, Demand and Convertibles Two principal factors determine whether an investment will be successful.
The Insight Conversations - On the Lookout
Harry We l l , l o o k i n g a t t h e e q u i t y ’s point again, we must mention Howard’s latest memo, Calculus of Va l u e , o u t We d n e s d a y, the 14th of August., Harry Howard does say in the memo, basically, anybody under the age of 35 hasn’t seen a proper crisis.
Political Reality
All Rights Reserved Follow us: Memo to: OaktreeClients From: Howard M a rks Re: Political R e a lity My last memo, in May, was on the subject of “Economic Reality.”, I have no interest in writing a memo about Brexit itself., Economic Reality: Choices and Consequences The May memo described the ways in which economics defines and constrains reality in business, investing and everyday life., All Rights Reserved Follow us: Topull this part of the memo together, I can’t overstate my appreciation for the way Thomas Friedman described the UK’s situation in The New York Times on June 29: A major European power, a long-time defender of liberal democracy, pluralism and free markets, falls under the sway of a few cynical politicians who see a chance to exploit public fears of immigration to advance their careers., All Rights Reserved Follow us: * * * I wrote this memo to explain what happened in the UK this year and what I think is happening in the U.S.