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You are leaving the Oaktree website and are being redirected to a third-party website. This link is being provided as a convenience and does not constitute an endorsement or approval by Oaktree of any products, services, or opinions of the corporation, organization or individual. Your access to, and use of, this website will be subject to the applicable Terms of Use, Privacy Policy and Use of Cookies.
Important Notice
You are leaving the Oaktree website and are being redirected to a third-party website. This link is being provided as a convenience and does not constitute an endorsement or approval by Oaktree of any products, services, or opinions of the corporation, organization or individual. Your access to, and use of, this website will be subject to the applicable Terms of Use, Privacy Policy and Use of Cookies.
The statements in this video represent the opinions of the individual speaker. This video does not constitute an offer to sell or the solicitation of an offer to purchase any security. Any investment involves substantial risks including complete loss of capital. There can be no assurance that Oaktree will be able to implement the strategy described herein or, if implemented, it will lead to successful results. There can be no assurance Oaktree will be able to maintain the advantages discussed herein over time, or outperform third parties or the financial markets generally.
Certain information contained in the video constitutes “forward-looking statements,” which can be identified by the use of terms such as “may,” “will,” “expects,” “intends,” “plans,” “believes,” “estimates” or comparable terminology. Forward looking statements are subject to a number of known and unknown risks and uncertainties, including without limitation changes in economic conditions, political changes, legal and regulatory requirements, interest rate fluctuations, as well as changes in the markets, prospects and competition. There can be no assurance historical trends will continue.
The Memo: You Bet!
In his memo, Howard Marks discusses the process of thinking in bets, parses the world of gambling, and draws parallels between investing and games of chance.