250 results for "memo":

Showing 171 - 180 of 250 results

2008-09-19-nobody-knows

A l l R i g h t s R e s e r v e d Memo to: OaktreeClients From: Howard M a r k s R e : Nobody K n o w s T h e t i t l e o f t h i s m emo isn’t a joke; I mean it., A l l R i g h t s R e s e r v e d 8 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.

2008-10-15-the-limits-to-negativism

(I developed these thoughts last week but just wasn’t quick enough to turn them into a memo., As Bruce Karsh and I wrote ten days ago in a memo to investors in our Opportunities Funds for distressed debt, “. . . in a few years we’ll reminisce together about how easy it was to take advantage of the bargains of 2008-09.”, A l l R i g h t s R e s e r v e d 10 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.

2009-11-10-touchstones

I’ve tackled this assignment in a number of memos and a variety of ways., “Greed Is Good” There’s no debating which line from the film Wall Street is the most memorable., T h e “ I k n o w ” s c h o o l o f i n v e s t i n g h a s r e c e i v e d f r e q u e n t mention in my memos (e.g., “Us and Them,” May 7, 2004)., 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.

2011-05-25-how-quickly-they-forget

And that’s the point of this memo., Shortness of memory plays a major part in abetting these swings., The Importance – and Shortcomings – of Investment Memory A number of my favorite quotations are on the subject of history and memory, and I’ve used them all in past memos., The first is the extreme brevity of the financial memory., Why Does Investment Memory Fail?

2012-03-19-déjà-vu-all-over-again

Memo to: OaktreeClients From: Howard Marks Re: DéjàVuAll Over Again What good is history?, Regular readers know I often include time-tested quotations in my memos., The first is the extreme brevity of the financial memory., In fact, Yogi supplied the title for this memo, saying “It‟s déjà vu all over again.”, In the memo, I mentioned that California had undergone a five-year drought.

2012-06-20-its-all-a-big-mistake

Memo to: OaktreeClients From: Howard M a r k s R e : It’sAllaBigMistake Mistakes are a frequent topic of discussion in our world., Hearing Bob put it that way gave me the immediate inspiration for this memo., I’ve mentioned before the frequency with which I feel I come across a particularly apt quote just when I need it for a memo in the making., 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.

2012-11-09-a-fresh-start-hopefully

Memo t o : O a k t r e e C l i e nts F r o m: Howard M a rks Re: AFreshStart (Hopefully) For years I kept these memos away from anything related to politics., President Obama’s Reply I’m proud to share the news that on the strength of my memos, I have been asked to craft a response for President Obama on this subject., 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

Go Figure

All Rights Reserved Follow us: Memo to: Oaktree Clients From: Howard Marks Re: Go Figure!, That behavior calls to mind my January memo, “On the Couch,” on the subject of the market’s irrationality., In that memo, I included a cartoon showing a newscaster saying, “Everything that was good for the market yesterday was no good for it today.”, * * * This is the last memo on politics for a while, I hope (as may you)., This memorandum is being made available for educational purposes only and should not be used for any other purpose.

The Roundup: Top Takeaways From Oaktree’s Quarterly Letters - 4Q2022

(See Howard’s memo The Illusion of Knowledge for Oaktree’s view on the usefulness of macro forecasting.)

Commemorating 25 Years of Mastering the Market Cycle

.• 1988 marks the peak in S&L failures, part of a slow-moving crisis that would see more than 1,000 institutions fail. 1990 Oaktree • 1990: Howard writes his first investment memo, The Route to Performance , stating that “if you can avoid the losers (and losing years), the winners will take care of themselves.”, What is your favorite Oaktree memory?, It reminds me that the community and relationships we get to develop in our workplace are some of the most meaningful memories, and they stay with me., RM: One of my favorite Oaktree memories tracks back to the founding of the firm—namely the fact that nearly all of our colleagues at TCW decided to join our new venture., Earning clients’ trust and having a wonderful relationship with them have been some of the most important and memorable aspects of being part of Oaktree.