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The Memo by Howard Marks

The Memo by Howard Marks

Oaktree Capital Management

On October 12, 1990, Oaktree Co-Chairman Howard Marks published his first memo to clients. In the decades since, he has periodically released memos reflecting his viewpoint on the investment landscape, as well as more general business insights. On this podcast we'll hear the latest memos by Howard, released in tandem with or shortly after their publication.

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Top 10 The Memo by Howard Marks Episodes

Goodpods has curated a list of the 10 best The Memo by Howard Marks episodes, ranked by the number of listens and likes each episode have garnered from our listeners. If you are listening to The Memo by Howard Marks for the first time, there's no better place to start than with one of these standout episodes. If you are a fan of the show, vote for your favorite The Memo by Howard Marks episode by adding your comments to the episode page.

The Memo by Howard Marks - The Insight: Conversations – European Credit at a Turning Point
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09/08/23 • 42 min

Learn about the current state of European credit and the dramatic changes seen over the last year in this thought-provoking discussion with Armen Panossian (Head of Performing Credit), Madelaine Jones (Portfolio Manager, European Senior Loans and European High Yield Bonds), and Nael Khatoun (Head of European Private Debt). They consider the challenges created by the end of the easy money era, risks posed by geopolitics and artificial intelligence, and the quality advantage that exists in European markets.

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The Memo by Howard Marks - The Winds of Change

The Winds of Change

The Memo by Howard Marks

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11/30/21 • 62 min

The last 20 months have taught us to question everything. What is the future of work? Can American democracy survive? Will Baby Boomers keep consuming more than their fair share? And what comes after “trillion”? Howard Marks’s latest memo examines paradigm shifts that could reshape the economy, markets and the world for many years to come. (November 23, 2021)

You can read the memo here (https://www.oaktreecapital.com/docs/default-source/memos/thewindsofchange.pdf)

The memo is read by LJ Ganser.

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The Memo by Howard Marks - Something of Value

Something of Value

The Memo by Howard Marks

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01/14/21 • 63 min

The dichotomy of “value” and “growth” investing has become a sharp stylistic divide. But is it helpful? In his latest memo, Howard Marks discusses how he views the art and science of value investing, especially in the increasingly efficient and complex world we face today. (January 11, 2021)

You can read the memo here (https://www.oaktreecapital.com/docs/default-source/memos/something-of-value.pdf).

The memo is read by LJ Ganser.

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The Memo by Howard Marks - The Illusion of Knowledge

The Illusion of Knowledge

The Memo by Howard Marks

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09/08/22 • 53 min

Howard Marks has long questioned the value of macro forecasts, but in his latest memo, he explains why creating profitable forecasts is so difficult. He discusses the incredible complexity involved in modeling an economy and makes it clear that forecasting mostly provides the illusion of knowledge. He argues that investors are better off accepting reality — that the macro future is largely unknowable — and focusing on what they can know.

The memo is read by LJ Ganser.

You can read the memo here (https://www.oaktreecapital.com/insights/memo/the-illusion-of-knowledge).

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The Memo by Howard Marks - Shall We Repeal The Laws of Economics?
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09/19/24 • 55 min

In his latest memo, Howard Marks discusses the economic facts of life, as he examines the workings of free markets and what happens when they’re tampered with. He considers what “price-gouging” actually means and how rents should be set. He ultimately argues that the laws of economics shouldn’t be overridden — even when it’s politically advantageous to do so – because of the loss to society.

You can read the memo here (https://www.oaktreecapital.com/docs/default-source/memos/shall-we-repeal-the-laws-of-economics.pdf?sfvrsn=ab205566_1).

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The Memo by Howard Marks - The Pendulum in International Affairs
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03/23/22 • 29 min

Howard Marks’s latest memo connects two seemingly unrelated trends – Europe’s energy dependence and U.S. offshoring – to explain why the pendulum of companies’ and countries’ behavior may be swinging away from globalization and toward onshoring. This shift will likely create risk for investors but also opportunities.

The memo is read by LJ Ganser.

You can read the memo here (https://www.oaktreecapital.com/docs/default-source/memos/the-pendulum-in-intl-affairs.pdf).

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The Memo by Howard Marks - The Rewind: You Can’t Predict. You Can Prepare.
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02/24/21 • 52 min

Howard looks back on this memo, originally published on November 20, 2001. The title was inspired by a TV commercial tagline from that time: “It's almost a Yogi Berra type statement that makes no apparent sense on first reading, but then it turns out to be quite wise.”

You can read the memo here (https://www.oaktreecapital.com/docs/default-source/memos/2001-11-20-you-cant-predict-you-can-prepare.pdf?sfvrsn=bc00f65_2).

The memo is read by LJ Ganser.

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The Memo by Howard Marks - The Rewind: bubble.com

The Rewind: bubble.com

The Memo by Howard Marks

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12/21/20 • 52 min

Howard looks back on his memo titled “bubble.com,” originally published on January 2, 2000, and credited with making his memo writing an “overnight success” after 10 years without a single response.

To view the referenced graphics, see the original memo here (https://www.oaktreecapital.com/docs/default-source/memos/2000-01-02-bubble.pdf?sfvrsn=37bc0f65_2).

The memo is read by LJ Ganser.

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The Memo by Howard Marks - Introducing “The Rewind”: The Route To Performance
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11/30/20 • 19 min

Today we debut a new series, “The Rewind,” in which Howard looks back on some of his memos over the years, discusses their origin and considers their relevance in today’s financial environment. We start with his very first memo, “The Route To Performance,” originally published on October 12, 1990.

The memo is read by LJ Ganser.

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The Memo by Howard Marks - The Rewind: Ditto

The Rewind: Ditto

The Memo by Howard Marks

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02/02/23 • 71 min

Howard is joined by Bruce Flatt, CEO of Brookfield, for a discussion of Ditto, which was originally published on January 7, 2013. They examine the distinction between price and value and consider how investors might gain a competitive advantage today. This episode was recorded in November 2022.

The memo is read by LJ Ganser.

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FAQ

How many episodes does The Memo by Howard Marks have?

The Memo by Howard Marks currently has 63 episodes available.

What topics does The Memo by Howard Marks cover?

The podcast is about Management, Investing, Podcasts and Business.

What is the most popular episode on The Memo by Howard Marks?

The episode title 'The Pendulum in International Affairs' is the most popular.

What is the average episode length on The Memo by Howard Marks?

The average episode length on The Memo by Howard Marks is 41 minutes.

How often are episodes of The Memo by Howard Marks released?

Episodes of The Memo by Howard Marks are typically released every 26 days, 10 hours.

When was the first episode of The Memo by Howard Marks?

The first episode of The Memo by Howard Marks was released on Oct 19, 2020.

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