292 results for "memo":
Showing 221 - 230 of 292 results
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.
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 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.
Hedge Funds a Case for Caution
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 : HedgeFunds:ACaseforCaution Onceuponatime there was an asset class., I think they also exhibit many of the traits associated with the venture capital boom described on page one of this memo, including widespread investor participation., A l l R i g h t s R e s e r v e d magnitude of the hedge fund movement, a memo on the subject has become inevitable., To start bringing this memo to a close, I’ll cite John Moon and Tim Jensen’s apt enumeration of the possible outcomes in our Emerging Markets Fund’s second quarter letter: We have no idea if the hedge fund boom will peter out after several years of mediocre performance, end in another [Long-Term Capital Management] crescendo, or continue until all money is either indexed or run by hedge funds.
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.
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.
Who Knew
A l l R i g h t s R e s e r v e d Memo to: OaktreeClientsandFriends From: HowardMarks Re: WhoKnew?, And yet, in my last memo on September 3, 1997, I may actually have made a correct prediction, as follows: What could cause a market decline?
Liquidity
All Rights Reserved Memo to: Oaktree Clients From: Howard Marks Re: Liquidity My wife Nancy’s accusations of repetitiveness notwithstanding, once in a while I think of something about which I haven’t written much., But I think it’s worth a memo., (Several years ago I cited Wikipedia in a memo, and Oaktree co-founder Richard Masson – a stickler for correctness – told me in no uncertain terms that it wasn’t a respectable source., * * * I started this memo by saying liquidity might not be a profound topic.
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., 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.”
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.