260 results for "memo":

Showing 31 - 40 of 260 results

2006-12-07-pigweed

TURisk Management and Risk Managers TYou know from my memo of February entitled “Risk” that I’m not a big fan of quantitative risk management., TIn the memo on risk, I enumerated several criteria that should be present if modeling is to prove effective., When sellers’ urgency increases, they’re likely to have to give on price in order to achieve the “immediacy” they crave (see my memo “Investment Miscellany,” November 16, 2000)., This memorandum is being made available for educational purposes only and should not be used for any other purpose., This memorandum, including the information contained herein, may not be copied, reproduced, republished, or posted in whole or in part, in any form without the prior written consent of Oaktree.

2007-07-16-its-all-good

A l l R i g h t s R e s e r v e d Memo to: OaktreeClients From: Howard Marks Re: It’s All Good Readers of my memos know that one thing I believe in most strongly – and harp on most frequently – is the inevitability of cycles., Thus I’m offering it as a twofer with this memo; copies are available on request at no additional cost., Thus I’m going to devote this memo to the cycle that’s been underway for the last few years., In this latter regard, I’ll reprint a few paragraphs from “First Quarter Performance,” the 1991 memo cited above., This memorandum is being made available for educational purposes only and should not be used for any other purpose.

2008-02-20-whodunit

It’s the purpose of this memo to say where I think responsibility lies., My wife Nancy says she likes this memo more than most, because the lesson is so easy to understand., A l l R i g h t s R e s e r v e d 13 Legal Information and Disclosures This memorandum expresses the views of the author as of the date indicated and such views are subject to change without notice., This memorandum is being made available for educational purposes only and should not be used for any other purpose., This memorandum, including the information contained herein, may not be copied, reproduced, republished, or posted in whole or in part, in any form without the prior written consent of Oaktree.

2010-12-01-open-and-shut

Rather, all I have to do is recycle components from previous memos, like a builder reusing elements from old houses., I’m willing to try an experiment along those lines for this memo., The above citations provide the themes for this memo., The Ramifications In 2003, my memo “What’s Going On?”, A final reference to past memos: you might want to look back to 2004’s “Risk and Return Today.”

2010-12-17-all-that-glitters

A l l R i g h t s R e s e r v e d 1 Memo to: OaktreeClients From: Howard M a r k s R e : AllThatGlitters In 1952, Noah S., Thus it serves well to introduce the topic of this memo: gold., I’m very glad that I still have it today, plus a few silver certificates that I didn’t convert . . . plus the rest of my memories of those early days., This memorandum is being made available for educational purposes only and should not be used for any other purpose., This memorandum, including the information contained herein, may not be copied, reproduced, republished, or posted in whole or in part, in any form without the prior written consent of Oaktree.

Mysterious

All Rights Reserved Follow us: Memo to: Oaktree Clients From: Howard Marks Re: Mysterious Most of the time, my memos have their origin in something interesting that’s happening in the world or in a series of events I come across that I think can be interestingly juxtaposed., The other day, my colleague Ian Schapiro, the leader of Oaktree’s Power Opportunities and Infrastructure groups, suggested I write a memo about negative interest rates., This question takes me back to my immediate response to Ian’s suggestion that I write this memo: nobody knows, and certainly not me., This memorandum is being made available for educational purposes only and should not be used for any other purpose., This memorandum, including the information contained herein, may not be copied, reproduced, republished, or posted in whole or in part, in any form without the prior written consent of Oaktree

The Illusion of Knowledge

All Rights Reserved Follow us: Memo to: Oaktree Clients From: Howard Marks R e: The Illusion of Knowledge I’ve been expressing my disregard for forecasts for almost as long as I’ve been writing my memos, starting with The Value of Predictions, or Where’d All This Rain Come From in February 1993., It was that lunch that started me thinking about writing yet another memo on the futility of macro forecasting., Together, the lunch and these items inspired this memo’s theme: the reasons why forecasts are r arely helpful ., I found Ferguson’s article so relevant to the subject of this memo that I’m including a link to it here., All Rights Reserved Follow us: * * * In a 2001 memo called What’s It All About, Alpha?

Taking the Temperature

First, I felt the memos accurately conveyed my thinking at the key turning points in that 20-year period., Thus, I said so in the memo bubble.com, which was published as 2000 began., Here’s how I put it in a memo I wrote that day: Skepticism and pessimism aren’t synonymous., This is how things stood in March 2012, when I wrote the memo Déjà Vu All Over Again., As I wrote in that same memo: What do we know?

Conversations - Full Return World - Transcript

Howard, why were you interested in writing a follow-up to your memo, Sea Change?, And of course, the original Sea Change thesis came out of client visits that I made in October and November, and then the memo was released in December., I’ve never written a memo before that talked about something of the magnitude of the sea change that I think we’re going through., Anna So the last specific question I’ll ask about this memo, Howard, is for you, and it’s about capital allocation because it’s obviously a big part of the memo Further Thoughts on Sea Change., I discussed this in a memo called Race to the Bottom in February ’07, which unfortunately turned out to be right in the Global Financial Crisis.

2023 Year-End Book Recommendations

Stay True by Hua Hsu Priya Prasad-Bowe | Head of ESG Stay True is a beautifully written memoir about friendship and loss set in Northern California in the mid-1990s., TheCaliph’s House: A Year in Casablanca by Ta h i r Shah June Sun | Vice President, Infrastructure Investing In this captivating memoir, Ta h i r S h a h c h r o n i c l e s h i s d e c i s i o n t o u p r o o t h i s f a m i l y ’s life in London in order to purchase an ancient, crumbling mansion in Casablanca.