292 results for "memo":
Showing 101 - 110 of 292 results
Nobody Knows (Yet Again)
In his latest memo, Howard discusses how the recent events surrounding tariffs can have a seismic but unpredictable impact on the global economy.
Mr. Market Miscalculates
All Rights Reserved Follow us: Memo to: Oaktree Clients From: Howard Marks Re: Mr., I referred them to my 2016 memo On the Couch., I wrote over 33 years ago, in only my second memo: The mood swings of the securities markets resemble the movement of a pendulum. . . ., It’s highly applicable to the market tremor that inspired this memo.
Calibrating
All Rights Reserved Follow us: Memo to: Oaktree Clients From: Howard Marks Re: Calibrating I set a personal record by writing four memos in the month of March, responding to the rapidly unfolding coronavirus crisis., In this first memo of the crisis, I struck a number of themes I would return to in the following weeks: These days, people have been asking me whether this is the time to buy., Latest Update – to clients March 19, on website March 24 This memo was issued with the S&P 500 down 29% and within a few days of the low (down 34%) that would be reached on March 23., Portfolio Positioning One of the benefits I derive from writing my memos is that the more I work on a memo about something, the more it comes into focus., On the contrary, I gave this memo the title Calibrating because of my view that a portfolio’s positioning should change over time in response to what’s going on in the environment.
The Role of Confidence
That’s what this memo is about., Confidence Today Back in September, I wrote a memo entitled “On Uncertain Ground.”, In mid-2007 I was working on a memo with the projected title “The Mother of All Cycles.”, In the memo I complained that every asset class, every asset and every region was appreciating., Thus that memo was followed by “It’s All Good . . .
The Illusion of Knowledge
It was that lunch that started me thinking about writing yet another memo on the futility of macro forecasting., Shortly after starting on this memo, I received my regular weekly edition of Morgan Housel’s always-brilliant newsletter., I found Ferguson’s article so relevant to the subject of this memo that I’m including a link to it here., At the lunch described at the beginning of this memo, people were asked what they expected in terms of, for example, Fed policy, and how that influenced their investment stance., * * * In a 2001 memo called What’s It All About, Alpha?
The Folly of Certainty
Memo to: Oaktree Clients From: Howard Marks R e: The Folly of Certainty The impetus for my memos can come from a wide variety of sources., And, with that, I had the subject of this memo: not whether Biden will continue campaigning or drop out – or whether he’ll win if he continues – but rather how anyone can be without doubt., Back in mid-2020, when the pandemic seemed to have become a more or less understood phenomenon, I slowed the pace of my memo writing from the one-a-week pattern of March and April., A L L R I G H T S R E S E R V E D P.S.: Last summer’s Grand Slam tennis tournaments provided the inspiration for my memo Fewer Losers, or More Winners?, Similarly, this past Saturday’s women’s final match at Wimbledon has provided a snippet for this memo.
Notes from New York
A l l R i g h t s R e s e r v e d Memo to: OaktreeClients From: HowardMarks Re: Notesfrom New York Maybe you've already read enough about last week's events, in which case you should feel free to discard this memo., I had no plans for a memo on this subject., This memo may not include much that is new to you but, as usual, I will attempt to pull together my own thoughts and what I've heard and read elsewhere.
The Winds of Change
Howard Marks’s latest memo examines paradigm shifts that could reshape the economy, markets and the world for many years to come.
The Rewind - Dare to Be Great II
Howard reflects on this memo originally published on April 8, 2014.
Selling Out
Howard Marks’s latest memo considers one of investing’s most fundamental questions: when to sell.