306 results for "memo":

Showing 151 - 160 of 306 results

Lessons from Silicon Valley Bank

A Word on Regulation In March 2011, in the aftermath of the GFC, I published a memo called On Regulation ., Combine developments like these with the reality that (a) interest rates are no longer declining or near zero; (b) the Fed can’t be as accommodative as it was in the last few crises, because of today’s elevated inflation; and (c) negative developments are popping up in portfolios, and I think the case made in my previous memo, Sea Change (December 2022), has been bolstered., * * * While I don’t foresee widespread contagion – either psychological or financial – arising from the SVB failure alone, I can’t end a memo on U.S. banks without mentioning one of the biggest worries they face today: the possibility of problems stemming from loans against commercial real estate (“CRE”), especially office buildings.
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."
Mysterious

All Rights Reserved Follow us: Memo to: Oaktree Clients From: Howard Marks Re: Mysterious Most of the time, my memos have their origin in something interesting that’s happening in the world or in a series of events I come across that I think can be interestingly juxtaposed., The other day, my colleague Ian Schapiro, the leader of Oaktree’s Power Opportunities and Infrastructure groups, suggested I write a memo about negative interest rates., This question takes me back to my immediate response to Ian’s suggestion that I write this memo: nobody knows, and certainly not me.
Fewer Losers More Winner

All Rights Reserved Follow us: Memo to: Oaktree Clients From: Howard Marks R e: Fewer Losers, or More Winners?, This time, in my fourth decade of memo -writing, I’m going to devote a few more paragraphs to tennis., In my memo Liquidity (March 2015), I included an insight from my son Andrew., The Role of Risk Bearing I’m going to conclude this memo using my favorite graph., In my memo What Really Matters?
Is It a Bubble? (Audio)

In his latest memo, Howard Marks addresses the much-asked question, “Is there a bubble in AI?”
Cockroaches in the Coal Mine (Audio)

In his latest memo, Howard Marks examines the recent string of well-publicized credit problems.
Gimme Credit (Audio)

In his latest memo, Howard addresses a common question he’s been receiving over the last few months: “what about credit spreads?”
There They Go Again

A l l R i g h t s R e s e r v e d Memo t o : O a k t r e e C l i ents F r o m: Howard M a r k s R e : ThereTheyGoAgain Contributingto...euphoriaaretwofurtherfactorslittlenotedinourtime orinpasttimes., * * * Lately I’ve been speaking a lot from my last general memo, “Risk and Return Today” (October 27, 2004)., I was pleased to get a letter from Peter Bernstein in response to my memo, in which he said something wonderful: “The market’s not a very accommodating machine; it won’t provide high returns just because you need them, ” * * * If you look back at the recurring mistakes listed at the beginning of this memo, you’ll see some common threads.
Lines in the Sand

All Rights Reserved Follow us: Memo to: Oaktree Clients From: Howard Marks Re: Lines in the Sand In my 2016 year-end review, which went only to clients, I included a discussion of the use of subscription lines by closed-end funds in areas such as private equity, real estate, distressed debt and private credit., Thus I decided to write this memo on the topic for general circulation., Remember, as I wrote in a 2006 memo with the same title, you can’t eat IRR., My basic point in that memo was that what really matters is how much money an LP makes as a result of having committed to a fund.
BTM Fewer Losers or More Winners

 1 Transcript Insights Behind the Memo: Fewer Losers, or More Winners?, Anna Szymanski Hello, and welcome to Behind the Memo with Howard Marks., And in the memo, you explain it through tennis., And that’s where the title of the memo comes from., Anna So as always, do you have any final thoughts about this memo?