265 results for "memo":
Showing 241 - 250 of 265 results
2011-03-02-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., Memory of the events behind the demand for regulation will fade, 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
2015-09-09-its-not-easy
This memo is largely about the challenges they present, All Rights Reserved Second-Level Thinking I always thought that when I retired, I would write a book pulling together the elements of investment philosophy discussed in my memos., And yet I’ve never covered it explicitly for the readers of my memos., 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
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?”, 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
Expert Opinion
All Rights Reserved Follow us: Memo to: Oaktree Clients From: Howard Marks Re: Expert Opinion In August, I mentioned that I had chosen the title “Political Reality” for my memo in part because of my liking for oxymorons., This memo was inspired by a thought that popped into my head when the outcome of the election settled in., You may point out that at the end of my November 14 memo “Go Figure!, Anyway, this memo isn’t about politics, it’s about opinions., I’ll start this memo by reflecting on them.
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., 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
Investing Without People
All Rights Reserved Follow us: Memo to: Oaktree Clients From: Howard Marks Re: Investing Without People Over the last twelve months I’ve devoted three memos to discussing macro developments, market outlook, and recommendations for investor behavior., Since little in the environment has changed from what I described in those three memos, I feel I now have the liberty to turn to some bigger-picture issues., In this memo I’ll use the first of those., Wolf, a former CIO and consultant to some of our clients’ boards, asking which memo contained a quote she likes to use., This memorandum is being made available for educational purposes only and should not be used for any other purpose.
QLR - 2Q2022
Bruce Karsh Co-Chairman, Chief Investment Officer Pedro Urquidi Global Co-Portfolio Manager, Global Opportunities Robert O'Leary Global Co-Portfolio Manager, Global Opportunities the roundup: To p Ta keaways From Oaktree’s Q u a rterly Letters 2Q2022 oaktree insights - 2 - In today’s u n c e rtain environment, we’re reminded of a quote from Wa r ren Buffett that Howard included in his memos It’s All Good (July 2007) and The Tide Goes Out (March 2008): “It's only when the tide goes out that you find out who’s b e e n s w i m m i n g n a k e d .”
I Beg to Differ
The Essential Difference In 2006, I wrote a memo called Dare to Be Great., Talk about simple – in the memo, I reduced the issue to a single sentence: “This just in: You can’t take the same actions as everyone else and expect to outperform.”, Thus, in 2014, I followed up on 2006’s Dare to Be Great with a memo creatively titled Dare to Be Great II., And yet, as I mentioned in my January memo, Selling Out, the S&P 500 has returned about 10½% a year on average over that century-plus., This memorandum is being made available for educational purposes only and should not be used for any other purpose.
Further Thoughts on Sea Change
All Rights Reserved Follow us: Memo to: Oaktree Clients From: Howard Marks R e: Further Thoughts on Sea Change In May, I wrote a follow-up memo to Sea Change (December 2022) that was shared exclusively with Oaktree clients., Finally, there’s what John Kenneth Galbraith called “the extreme brevity of the financial memory.”, As I mentioned in my December memo, the 13 years in question were a difficult, dreary, low-return period for credit investors, including Oaktree., When I got home, I wrote the memo and began to discuss its thesis., This memorandum is being made available for educational purposes only and should not be used for any other purpose.
Mr. Market Miscalculates_JPN
上記の不確かな記憶から、ジョン・ケネス・ガルブレイス（ John Kenneth Galbraith ）が金融 市場で陶酔的熱病（ユーフォリア）が広がる最も重要な原因の 1 つとして挙 げた、「金融に関 する記憶の極端な短さ（ the extreme brevity of the financial memory ）」という鋭い指摘を連想 した。