310 results for "memo":

Showing 221 - 230 of 310 results

Different

All Rights Reserved Follow us: Memo to: Oaktree Clients Only From: Howard Marks Re: A Different World Our powers and choices are limited in the coronavirus environment, but one thing I can do is communicate., But I decided on Sunday March 1 that the virus called for a memo, and it was issued on March 3.
What's Going on in Private Credit

 © 2026 Oaktree Capital Management, L.P All Rights Reserved Follow us: Memo to: Oaktree Clients From: Howard Marks Re: What’s Going on in Private Credit?, As Armen, Bob, and Craig wrote in a recent internal memo: 6 © 2026 Oaktree Capital Management, L.P., As I wrote in my 2016 memo What Does the Market Know?, As I mentioned a year ago in my memo, Gimme Credit, whereas for a few years the most popular question has been “can we talk about private credit?”, In December 2022, I wrote a memo called Sea Change.
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.
The Winds of Change

All Rights Reserved Follow us: Memo to: Oaktree Clients From: Howard Marks R e: The Winds of Change The last 20 months have been a most unusual period, thanks primarily to the pandemic, yet many things feel like they haven’t changed over that time span., Yet there are changes taking place, and they’ll be the subject of this memo., All Rights Reserved Follow us: In my January memo, Something of Value, I described some of the changes technology is making in the business world., 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.
The Race Is On

Memo to: Oaktree Clients From: Howard Marks Re: The Race Is On I’ve written a lot of memos to clients over the last 24 years – well over a hundred., I wasn’t aware and didn’t explicitly predict (in that memo or elsewhere) that the unwise lending practices that were exemplified in sub-prime mortgages would lead to a global financial crisis of multi-generational proportions., This memo is about the cycle’s first half: the manic swing toward accommodativeness., It’s primarily these latter elements – rather than securities merely getting pricier – with which this memo is concerned., Toward the end, my 2007 memo included the following paragraph: Today’s financial market conditions are easily summed up: There’s a global glut of liquidity, minimal interest in traditional investments, little apparent concern about risk, and skimpy prospective returns everywhere.
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.
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?
Gimme Credit

 Memo to: Oaktree Clients From: Howard Marks Re: Gimme Credit The questions I get from clients enable me to understand in real time what’s on their minds., 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 Ve rsus Equities I’ve written about equity valuations – primarily referencing the Standard & Poor’s 500 – as recently as this January in my memo On Bubble Wa tch.
What Really Matters

All Rights Reserved Follow us: Memo to: Oaktree Clients From: Howard Marks R e: What Really Matters?, I’ve gathered a few ideas from several of my memos this year – plus some recent musings and conversations – to form the subject of this memo: what really matters or should matter for investors.
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.