306 results for "memo":
Showing 281 - 290 of 306 results
The Roundup: Top Takeaways from Oaktree’s Quarterly Letters - March 2023 Edition
In Howard's recent memo Sea Change, he wrote, “We've gone from the low-return world of 2009-21 to a full-return world, and it may become more so in the near term….
2020 in Review
Thus, you might end up feeling this memo should have been titled Preview of 2021 rather than 2020 in Review.
Assessing Performance Records a Case Study
Memo to: OaktreeClients From: Howard M a r k s R e : AssessingPerformance Records – A Case Study What are the non-negotiable requirements for accurately assessing investment performance?, in my memo Pigweed, from December 7, 2006
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.
The Roundup: Top Takeaways from Oaktree’s Quarterly Letters - March 2024 Edition
Private credit based on Oaktree observations in the market, as of February 29, 2024. 3 Oaktree Co-Chairman Howard Marks discussed this view in detail in his recent memo, Easy Money. 4 This refers to the yield-to-two-year-call. 5 Based on Oaktree observations in the market, as of February 29, 2024. 6 Bank of America, as of January 5, 2024. 7 JP Morgan, as of February 14, 2024. 8 Based on estimates from industry peers, as of October 26, 2023. 9 Real Capital Analytics, as of February 29, 2024. 10 Refinitiv Global Focus Convertible Bond Index (USD Hedged), FTSE All-World Total Return Index (Local Currency), as of December 31, 2023. 11 Bloomberg, as of January 31, 2024. 12 BofA Global Research, as of December 31, 2023. 13 BofA Global Research, as of December 31, 2023. 14 MSCI China Index, as of January 31, 2024
Oaktree at Ten
Memo to: OaktreeClients From: Howard M a rks Re: OaktreeatTen OaktreeCapital Management, LLC opened its doors ten years ago, on April 10, 1995.
Performing Credit Quarterly 2Q2022: Shifting Gears
Consequently, the yield on the 10-year Treasury note fell by 45 bps between June 13 and June 30, while yield spreads widened across credit asset classes.1 As we assess recession risk and how an economic downturn might impact credit markets, we’re reminded of something Howard Marks recently wrote in his memo Bull Market Rhymes : The price of an asset is based on fundamentals and how people view those fundamentals.
It's All Very Taxing
Memo to: OaktreeClients From: Howard M a r k s R e : It’sAllVeryTaxing Theissueissimple: the U.S. government generally spends more than it brings in . . . and recently, a lot more., What’s Fair is Fair This memo got its start as an excuse for me to write about one of my greatest pet peeves: the so-called “fair share.”
Performing Credit Quarterly 4Q2023: The Goldilocks Trap
As Howard recently noted in his memo Easy Money: Low interest rates made it: easy to run a business, with the stimulated economy growing unabated for more than a decade; easy for investors to enjoy asset appreciation; easy and cheap to lever investments; easy and cheap for businesses to obtain financing; and easy to avoid default and bankruptcy.
Bubble
A l l R i g h t s R e s e r v e d Memo to: OaktreeClients From: HowardMarks Re: bubble.com Thebook"DevilTaketheHindmost" by Edward Chancellor does an excellent job of chronicling the history of financial speculation., * * * I will devote the rest of this memo to what certainly seems to me to be another market bubble.