295 results for "memo":

Showing 241 - 250 of 295 results

Investing Without People

All Rights Reserved Follow us: Memo to: Oaktree Clients From: Howard Marks Re: Investing Without People Over the last twelve months I’ve devoted three memos to discussing macro developments, market outlook, and recommendations for investor behavior., This memo covers three ways in which securities markets seem to be moving toward reducing the role of people: (a) index investing and other forms of passive investing, (b) quantitative and algorithmic investing, and (c) artificial intelligence and machine learning., In this memo I’ll use the first of those., Wolf, a former CIO and consultant to some of our clients’ boards, asking which memo contained a quote she likes to use., The Impact on Investing It’s only taken me until page fourteen to get to the issue that prompted me to start in on this memo: what these things imply for the future of our profession.
Coming Into Focus

All Rights Reserved Follow us: Memo to: Oaktree Clients From: Howard Marks Re: Coming into Focus Roughly two months have passed since my last memo, Time for Thinking, and still not much has changed in the economy or the markets., Thus, I’m going to use this memo to go into greater detail on a few topics., I touched on a few of them in my last memo, but I’m going to undertake a fuller treatment of the subject here., Further Exposing Inequality Especially in this environment of heightened attention to social and racial justice, I can’t end this memo without touching on some of the many ways in which the recent experience has shed additional light on inequality in our society: • People further down the economic ladder have had less in terms of financial resources to fall back on during the lockdown, and they generally haven’t benefitted from the increase in asset prices that’s been driven by the reduction of interest rates
Risk in Todays Markets

A l l R i g h t s R e s e r v e d Memo To: Clients From: HowardS.Marks,TCW Re: RiskinToday's Markets The ability of the stock market to react so harshly on February 4 to a small, Fed- mandated rise in interest rates, pushing the Dow down 96 points, suggests a lack of preparedness for negative developments.
We're Not in 1999 Anymore

A l l R i g h t s R e s e r v e d Memo to: OaktreeClients From: HowardMarks Re: We're Not In 1999 Anymore, Toto In "The Wizard of Oz," a tornado carried Dorothy and her dog, Toto, to a land ruled by a mysterious despot in whom people had vested extraordinary powers.
You Bet

All Rights Reserved Follow us: Memo to: Oaktree Clients From: Howard Marks Re: You Bet!, All Rights Reserved Follow us: Thinking in Bets In a past memo, I told a story from my days as a buy-side analyst following the business equipment industry for First National City Bank., And that brings me to the source of the inspiration for this memo: a book called Thinking in Bets: Making Smarter Decisions When You Don’t Have All the Facts by Annie Duke., That brings me to the subject of investing . . . and this memo., All Rights Reserved Follow us: Since her book provided the impetus for this memo, I’ll let Annie Duke sum up.
35 Years of Memos - Transcript

But anyway, that caused me to write the memo., Harry So bubble.com put the memos on the map, the next big crisis, seven or eight years later, the global financial crisis, again, I’ll read an excerpt from quite a timely memo Race to the Bottom, written in February 2007., Did you set out thinking, “Every memo should focus on risk, I should be the expert?”, Howard No, I think, Harry, that the themes, common threads that have developed, were never an intention to, “Let’s mention risk in every third memo,” or something like that., And I wrote a memo 25 years ago, plus or minus, called Us and Them talking about there are two schools of thought.
Conversation Conference 2024

I don’t think it should be. 2 Now, the memo focuses on the period from ‘09, at the beginning of which, the Fed took the fed funds rate to zero for the first time in history to fight the Global Financial Crisis, to the end of ‘21 when it gave up on inflation being transitory and decided to raise interest rates, which it did in early ‘22., The memo I put out in January entitled Easy Money was actually inspired by an English financial historian named Edward Chancellor and a book he wrote called The Price of Time.
Nobody Knows

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 : Nobody K n o w s T h e t i t l e o f t h i s m emo isn’t a joke; I mean it.
The Roundup: Top Takeaways From Oaktree’s Quarterly Letters - 4Q2022

(See Howard’s memo The Illusion of Knowledge for Oaktree’s view on the usefulness of macro forecasting.)
Leaning Toward Value: Emerging Markets Equities After the Pandemic

Howard Marks, our co-chairman, penned these lines in his recent memo “Something of Value” (January 11, 2021), critiquing the often oversimplified distinction between value and growth investing.