292 results for "memo":
Showing 81 - 90 of 292 results
Risk
A l l R i g h t s R e s e r v e d Memo to: OaktreeClients From: HowardMarks Re: Risk T h e r e a d i n g materials for a meeting of a corporate board on which I sit – and what turned out to be an eight-hour meeting of the audit committee (thank you, Messrs., But I think that tells so little of the story that I’ve decided to devote an entire memo to the subject of risk. 0BUWhy Does Risk Matter?, Rick Funston said in the article that prompted this memo, “. . . you need comfort that the . . .
Will It Work?
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 : Will It Work?, As has happened before, his question elicited a fatherly response that grew into this memo., The “I know” school (which first appeared in a memo in 2001) is still making predictions.
Nobody Knows (Yet Again)
I thought I should comment on these developments and the outlook, and the result was a memo called Nobody Knows, published four days later., In March 2020, I reused the title of the 2008 memo for Nobody Knows II, my first memo during the Covid-19 pandemic., The Uncertain Outlook In my February memo 2024 in Review, which went only to clients, I said the word to describe the Trump administration was “uncertainty.”, Truly nobody knows, and a lot of this memo will be about things we can’t know for sure., As I asked in a memo in September, is it a good idea for nations to try to repeal or resist the laws of economics in an effort to make it otherwise?
Open and Shut
Memo to: OaktreeClients From: Howard M a r k s R e : OpenandShut MarkTwain is described as having said, “History doesn’t repeat itself, but it does rhyme.”, I’m willing to try an experiment along those lines for this memo., The above citations provide the themes for this memo., In short, whereas economies fluctuate a little and profits a fair bit, the credit window opens wide and then slams shut . . . thus the title of this memo., The Ramifications In 2003, my memo “What’s Going On?”
Mr. Market Miscalculates
In his latest memo, Howard Marks discusses the reasons for the recent market volatility using one of finance’s classic metaphors: Mr.
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., – Mark Twain As I mentioned in my recent memo Thinking About Macro, in the 1970s we used to describe an economist as “a portfolio manager who never marks to market.”, All Rights Reserved Follow us: * * * In a 2001 memo called What’s It All About, Alpha?
Easy Money
I received excellent feedback on the memo from clients – encouragement that pro mpted the many memos that have followed., I thank Zach Kessler, a regular memo reader, for sending it., The relevance of The Price of Time to the trends I’ve been discussing for the last year occasions this memo, As I asked at the time in my memo There They Go Again . . ., Thus, I wrote as follows in my memo You Can’ t Predict.
"Risk in Today's Markets" Revisited
A l l R i g h t s R e s e r v e d Memo To: Clients From: HowardS.Marks,TCW Re: "RiskinToday's Markets" Revisited Seven weeks ago, we put out a memorandum entitled "Risk in Today's Markets.", It is the purpose of this follow-up memo to review the developments of the intervening time period, attempting to make sense out of what has happened and searching for lessons that can be drawn., Hedge funds occupied a meaningful part of our February 17 memo because they were felt to exemplify (to a power of ten) the risk-tolerant behavior of investors in general.
Easy Money
I received excellent feedback on the memo from clients – encouragement that prompted the many memos that have followed., I thank Zach Kessler, a regular memo reader, for sending it., The relevance of The Price of Time to the trends I’ve been discussing for the last year occasions this memo, As I asked at the time in my memo There They Go Again . . ., Thus, I wrote as follows in my memo You Can’t Predict.
The Rewind - You Can't Predict. You Can Prepare.
Howard looks back on this memo, originally published on November 20, 2001.