227 results for "memo":
Showing 71 - 80 of 227 results
Conversation at Panmure House
In the late ’90s, I wrote a memo called What's It All About, Alpha?, I wrote in one of my memos – maybe it was What’s It All About, Alpha?, In the spring of 2007, I wrote a memo called The Race to the Bottom., PS: I’d like to talk more about the memo Investing Without People ., In the memo Investing Without People, there are three sections.
You Bet
All Rights Reserved Follow us: Memo to: Oaktree Clients From: Howard Marks Re: You Bet!, As I’ve written in past memos, I have an indelible recollection of the first book I read as a Wharton freshman in 1963., That brings me to the subject of investing . . . and this memo., All Rights Reserved Follow us: Since her book provided the impetus for this memo, I’ll let Annie Duke sum up., This memorandum is being made available for educational purposes only and should not be used for any other purpose.
This Time It's Different
All Rights Reserved Follow us: Memo to: Oaktree Clients From: Howard Marks Re: This Time It’s Different I first came across the title of this memo in an article titled “Why This Market Cycle Isn’t Different” by Anise C., 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
assessing-relative-value-in-credit-amid-coronavirus-uncertainty
Th e f u rther we moved away from the GFC, the less the memory of the dramatic volatility from the crisis resonated with investors.
Performing Credit Quarterly 1Q2024: Unusually Uncertain
(a memo I thought mattered but which garnered relatively little response), the answers to questions about rate cut details aren’t meaningful, as any impact is likely to disappear within a few months.
2014-01-16-getting-lucky
Memo to: Oaktree Clients From: Howard Marks Re: Getting Lucky Sometimes these memos are inspired by a single event or just one thing I read., This one – like my first memo 24 years ago – grew out of the juxtaposition of two observations., Contrary to my wife Nancy’s observation that my memos are “all the same,” the subject here is one I’ve rarely touched on., 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.
2014-09-03-risk-revisited
All Rights Reserved Memo to: Oaktree Clients From: Howard Marks Re: Risk Revisited In April I had good results with Dare to Be Great II, starting from the base established in an earlier memo (Dare to Be Great, September 2006) and adding new thoughts that had occurred to me in the intervening years., 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.
1995-05-26-how-the-game-should-be-played
A l l R i g h t s R e s e r v e d Memo to: OaktreeClientsandFriends From: HowardMarks Re: HowtheGame Should Be Played One of the questions asked most often in connection with our leaving to form Oaktree - - perhaps second only to "where'd the name come from?", I believe this is the way much of the investment world thinks, but it's Uthe opposite of what we believe in.U In fact, I wrote a memo in 1990 to take issue with a money manager who justified his poor recent performance by saying "If you want to be in the top 5% of money managers, you have to be willing to be in the bottom 5%, too.", 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.
1996-11-25-will-it-be-different-this-time
A l l R i g h t s R e s e r v e d Memo to: OaktreeClients and Friends From: Howard Marks Re: WillItBeDifferentThisTime?, Nevertheless, 51 of the 53 "top economists" surveyed by Blue Chip newsletter (my favorite experts and the subject of my July 22, 1996 memo) predict growth next year of 1.5% or more., Galbraith cites "the extreme brevity of the financial memory" in explaining why markets are able to move to extremes of euphoria and panic., 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.
2004-03-16-hey-steward!!
A l l R i g h t s R e s e r v e d Memo to: OaktreeClients From: HowardMarks Re: Hey,Steward!!, (I wish I could coin the phrases I use in these memos, but usually I find myself relying on the creativity of others., My October memo “The Feeling’s Mutual” argued that late trading wasn’t the worst thing going on in the mutual fund industry., In my memos I try to resist citing Oaktree as the paragon of virtue., This memorandum is being made available for educational purposes only and should not be used for any other purpose.