305 results for "memo":
Showing 261 - 270 of 305 results
The New Paradigm
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 : TheNewParadigm When I was a kid, no one ate kiwi fruit or heirloom tomatoes – or had ever heard of them, for that matter., As I mentioned in a memo earlier this year, I’d heard a buyout mogul say, “It’s our job to buy good companies at fair prices and make them better.”, In my memo on hedge funds of two years ago, I cited an insightful piece from Byron Wien of Morgan Stanley called “In Praise of Hedge Fund Volatility.”
Tell Me I'm Wrong
A l l R i g h t s R e s e r v e d Memo to: Oaktree Clients From: Howard Marks Re: Tell Me I’m Wrong My readers treat me well., This memo won’t be about the future in general, just the elements I find worrisome., My goal in this memo isn’t to express a forecast.
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.
So Much That's False Nutty
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 : SoMuchThat’sFalseand Nutty As reported in The New York Times of May 5, Warren Buffett told the crowd at this year’s Berkshire Hathaway annual meeting: There is so much that’s false and nutty in modern investing practice and modern investment banking., Perhaps this memo can help get it back on., In the remainder of this memo, I’ll discuss these trends and their ramifications., A l l R i g h t s R e s e r v e d 14 * * * “Apropos of nothing,” as my mother used to say, I’m going to use the opportunity provided by this memo to discuss market conditions and the outlook.
Shall We Repeal the Laws of Economics
All Rights Reserved Follow us: Memo to: Oaktree Clients From: Howard Marks Re: Shall We Repeal the Laws of Economics?, For months, I’ve been saving up clippings for a memo on the above topic, but favorite subjects such as risk, debt, and uncertainty repeatedly jumped the queue, delaying my intended memo until the U.S., Another Case in Point: Rent Control The issue that first suggested this memo several months ago was rent control, something I’ve had personal experience with, having lived in an apartment that rented for $92 a month in 1956, when I was ten.
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.
Are You An Investor or a Speculator
Memo to: Oaktree Clients and Friends From: Howard Marks Re: Are You An Investor or a Speculator?, In an April 1991 memo entitled "The Pendulum," we discussed the market's usual oscillation between euphoria and depression, and thus between overpriced and underpriced.
Implications of the Election_11716
All Rights Reserved Follow us: Memo to: Oaktree Clients From: Howard Marks Re: Implications of the Election I’m starting this memo a week before Election Day., But after a post-election memo in 2012 that proved far too optimistic, I say, “why quit now?”
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.
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.