Memo Video

Memo Video

Memo

Memo

The Roundup: Top Takeaways from Oaktree’s Quarterly Letters – June 2025 Edition

Take April 9, for example, one of the most memorable trading days of my career, where we saw the following: Pre-Market: Long-dated Treasury yields rose above 5% and S&P 500 futures were down 2% 7:00am ET: The high yield bond market opened down 1-5 points depending on the structure 9:30am ET: The stock market opened, and President Trump shared high conviction market messages on social media, including that “it is a great time to buy” 1:15pm ET: A 90-day pause on tariffs was announced for a broad list of countries 1:30pm ET: High yield bond prices immediately bounced back, erasing the day’s losses, and many moved higher on the day 4:00pm ET: The S&P 500 closed up 9.5% and the NASDAQ closed up 12.2% on the day 4:30pm ET: Economist calls for a recession made just hours earlier were rescinded This day was the most extreme but much of early April had a similar profile as investors sought clarity amid evolving trade negotiations.

The Power of Credit

Any offer of securities or funds may only be made pursuant to a confidential private placement memorandum, subscription documents and constituent documents in their final form.

The Memo: Expert Opinion

The Memo: There They Go Again... Again

Behind The Memo - Bull Market Rhymes

2014-12-18-the-lessons-of-oil

All Rights Reserved Memo to: Oaktree Clients From: Howard Marks Re: The Lessons of Oil I want to provide a memo on this topic before I – and hopefully many of my readers – head out for year- end holidays., All Rights Reserved 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

1990-10-12-the-route-to-performance

A l l R i g h t s R e s e r v e d 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.

1994-04-11-risk-in-todays-markets-revisted

A l l R i g h t s R e s e r v e d Memo To: Clients From: HowardS.Marks,TCW Re: "RiskinToday's Markets" Revisited Seven weeks ago, we put out a memorandum entitled "Risk in Today's Markets.", It is the purpose of this follow-up memo to review the developments of the intervening time period, attempting to make sense out of what has happened and searching for lessons that can be drawn., Hedge funds occupied a meaningful part of our February 17 memo because they were felt to exemplify (to a power of ten) the risk-tolerant behavior of investors in general., 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.