286 results for "memo":
Showing 61 - 70 of 286 results
Risk Revisited Again
Also in 2006 I wrote Risk, my first memo devoted entirely to this key subject., This memo adds to what I’ve previously written on the topic., What Risk Really Means In the 2006 memo and in the book, I argued against the purported identity between volatility and risk., While writing the original memo on risk in 2006, an important thought came to me for the first time., Beginning on page 9, you’ll find a section borrowed from a memo I wrote back in 2007.
Inspiration from the World of Sports
All Rights Reserved Memo to: Oaktree Clients From: Howard Marks Re: Inspiration from the World of Sports I’m constantly intrigued by the parallels between investing and sports., In the latter memo, I listed five ways in which investing is like sports: It’s competitive – some succeed and some fail, and the distinction is clear, It was Yogi’s passing in late September that inspired this memo., This memo gives me a chance to discuss an invaluable clipping on the subject that I collected nine months ago and have been looking for an occasion to mention., The Victor’s Mindset It often seems that just as I’m completing a memo, a final inspiration pops up.
Ruminating on Asset Allocation
In his latest memo, Howard Marks outlines the need to base asset allocation decisions around an established risk target.
The Illusion of Knowledge
Howard Marks has long questioned the value of macro forecasts, but in his latest memo, he explains why creating profitable forecasts is so difficult.
Sea Change
In his latest memo, Howard Marks writes that the investment world may be experiencing the third major sea change of the last 50 years.
The Pendulum in International Affairs
The following is only a partial list of my writings on the subject: My second memo, written in April 1991, was creatively titled First Quarter Performance., My very first memo, The Route to Performance, resulted from two events I witnessed in short order, the juxtaposition of which led to what I thought was an important observation., At a recent meeting of the Brookfield Asset Management board, a discussion of Ukraine triggered an association with another aspect of international affairs – offshoring – which I first discussed in the memo Economic Reality (May 2016)., Thus the inspiration for this memo., But I think juxtaposing them is informative . . . and worthy of a memo.
Thinking About Macro
To invert the Buffett quote that began this memo, the macro future may not be knowable, but it certainly is important., That’s why I’m devoting a memo to a subject I largely disavow., As a result, I wrote a memo saying the market needed a trip to a psychiatrist (On the Couch, January 14, 2016)., I concluded my 2016 memo What Does the Market Know?, The answer lies in the title of a 2001 memo of mine: You Can’t Predict.
I'd Rather Be Wrong
Memo to: OaktreeClients From: Howard M a r k s R e : I’dRatherBeWrong Just a few weeks ago, I published “Tell Me I’m Wrong,” my latest list of things in the investment environment that I find worth worrying about., I’m going to devote a few pages here – I promise this’ll be the shortest memo in years – to a point I touched on in “What Worries Me” (August 28, 2008) but omitted from the more recent piece., This memo will be about one of the inarguably most depressing topics of our time: the seeming inability of governments and politicians to solve – or even tackle – the financial problems we face., This memo is inspired by two excellent newspaper articles that appeared within the last month: “Party Gridlock Feeds New Fear of a Debt Crisis,” by Jackie Calmes (The New York Times, February 17) * and “Perils of the California Model” by David Wessel (The Wall Street Journal, March 4)
Something of Value
Howard Marks writes in his latest memo how he views the art and science of value investing, especially in the increasingly efficient and complex world we face today.
Performing Credit Quarterly 1Q2023
As part of the discussion, they explore Howard’s memo Lessons from Silicon Valley Bank.