292 results for "memo":
Showing 41 - 50 of 292 results
I Beg to Differ
Howard Marks’s latest memo argues that investors seeking superior performance must have the courage to depart from the pack, even though doing so means accepting the risk of being wrong.
Easy Money
In his latest memo, Howard Marks considers what financial history can teach us about periods of easy money, the impact they have on investor behavior, and what happens when they end.
2020 in Review
Howard Marks writes in his latest memo about approaching the investment environment left in 2020’s wake – one generating many questions and no easy answers.
What Really Matters?
In his latest memo, Howard Marks weaves together some of the themes he’s explored in 2022 to explain what he believes really matters in investing and what doesn’t.
Coming into Focus
In his latest memo, Howard Marks discusses the unusual characteristics of this year’s economy; the impact of Covid-related monetary and fiscal policy actions on today’s markets; and the possible ramifications of the Fed/Treasury’s rescue efforts.
The Impact of Debt
In his latest memo, Howard Marks examines the relationship between leverage and survivability, taking inspiration from a recent Collaborative Fund post by Morgan Housel.
On Bubble Watch
On January 2, 2000, Howard Marks published his first memo to garner any reader response, bubble.com, calling attention to excesses he detected in the market for tech and internet stocks., His newest memo revisits the subject of bubbles.
The Folly of Certainty
In his latest memo, Howard Marks discusses the importance of avoiding expressions of absolute certainty when operating in fields subject to randomness and human emotion, like politics, economics, and investing.
Risk Revisited Again
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., Beginning on page 9, you’ll find a section borrowed from a memo I wrote back in 2007.
The Impact of Debt
All Rights Reserved Follow us: Memo to: Oaktree Clients From: Howard Marks Re: The Impact of Debt My partner Bruce Karsh recently supplied me with a newspaper article about chess that inspired me to write a brief memo called The Indispensability of Risk., The response to the memo was favorable, hopefully because people found the content valuable, but quite possibly because it was only three pages long versus the usual ten to twelve., Thus encouraged, I’m following up with another short memo., (Unless otherwise indicated, this memo is the source of the quotations that follow; in all cases, emphasis is in the original.), In that memo, I used a series of simple graphics to show that the lower a company’s debt load is, the greater the decline in fortune it could survive.