292 results for "memo":
Showing 261 - 270 of 292 results
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.
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.
On Regulation
Memo to: Oaktree Clients From: Howard Marks Re: OnRegulation I’ve been asked why there weren’t any memos during the twelve weeks between September 9 and December 1., It pulls together all of the strands of my philosophy into what might be thought of as a super-memo.
2020 in Review
Thus, you might end up feeling this memo should have been titled Preview of 2021 rather than 2020 in Review.
The Roundup: Top Takeaways from Oaktree’s Quarterly Letters – September 2025 Edition
Plus, we’ve included an excerpt from Howard Marks’s latest memo. 1 Market Outlook:Worrisome Equity Valuations Howard Marks Co-Chairman A bit over half of the S&P 500’s jaw-dropping 58% two-year total return in 2023-24 was attributable to the spectacular performance of just seven stocks, those of the so-called “Magnificent Seven” – Apple, Microsoft, Alphabet (parent company of Google), Amazon, Meta Platforms (parent company of Facebook), Nvidia, and Tesla.2 These are great companies – some are the best companies ever – and these seven stocks have grown to represent a startling one-third of the total market value of the 500-stock index.
A Look Under the Hood
The content of the consultant’s session impressed me so much that I decided to write a memo about it., I’m not disclosing the names of the state and its consultant, for obvious reasons, but I’m very pleased that they agreed to let me use the content of the meeting as raw material for this memo.
The Long View
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 : TheLongView Manyofmy memos over the last year and a half have touched on the developments in 2003-07 that brought on the current financial crisis., A l l R i g h t s R e s e r v e d 5 Cycles in Long-Term Trends The main thing I want to discuss in this memo is my realization that there are cycles in the long-term trend, not just short-term cycles around it, and we’ve been living through the positive phase of a big one., My last memo was on the subject of leverage and its major role in the crisis we’re all experiencing.
It's Not Easy
All Rights Reserved Memo to: Oaktree Clients From: Howard Marks Re: It’s Not Easy In 2011, as I was putting the finishing touches on my book The Most Important Thing, I was fortunate to have one of my occasional lunches with Charlie Munger., This memo is largely about the challenges they present, • In my memo on liquidity in March, I borrowed an idea from my son Andrew: If you look longingly at the chart for a stock that has risen for twenty years, think about how many days there were when you would’ve had to talk yourself out of selling.
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. election season got into full swing, making it compelling., 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.