223 results for "memo":
Showing 21 - 30 of 223 results
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.
1994-07-15-how-does-an-inefficient-market-get-that-way
Well, this memo was occasioned by an article in "Pensions & Investments" reporting consultant SEI's recommendation that pension plan sponsors invest 10% to 30% of their fixed income portfolios in high yield bonds., 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.
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.
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.