The Rewind: Calling The Market

The Rewind: Calling The Market

Howard looks back on several memos he’s written near major turning points in the market over the last few decades, from the bursting of the dot-com bubble to the pandemic-driven crisis in early 2020. He considers what an investor should – and shouldn’t – focus on when making a market call.

Show More

Backward
Play
Forward
1x speed
  • 0.5
  • 1
  • 1.5
  • 2
Other episodes
The Insight: Conversations – Full Return World with Howard Marks and Armen Panossian

The Insight: Conversations – Full Return World with Howard Marks and Armen Panossian

Howard Marks (Co-Chairman) and Armen Panossian (Head of Performing Credit) discuss topics related to Howard’s latest memo, Further Thoughts on Sea Change, and Oaktree’s recently published Performing Credit Quarterly 3Q2023 in this crossover episode of The Insight: Conversations and Behind the Memo. They consider the implications of the potential sea change reshaping the investment environment, […]

71 downloads Howard Marks Nov 02, 2023
31m
Further Thoughts on "Sea Change"

Further Thoughts on "Sea Change"

In his latest memo, Howard Marks provides a follow-up to Sea Change (https://www.oaktreecapital.com/insights/memo/sea-change), his thought-provoking memo published in December 2022. He argues that the trends he highlighted in the original memo collectively represent a sweeping alteration of the investment environment that calls for significant capital reallocation. Further Thoughts on Sea Change was originally sent exclusively to Oaktree clients on […]

117 downloads Howard Marks Oct 11, 2023
33m
The Insight: Conversations – Credit Picker’s Market with Wayne Dahl, Robert O’Leary, and Mark Jacobs

The Insight: Conversations – Credit Picker’s Market with Wayne Dahl, Robert O’Leary, and Mark Jacobs

How have credit investors been successfully navigating the volatile interest rate environment?  Which sectors currently look attractive to opportunistic credit investors?  What are some of the major misconceptions about today’s commercial real estate market?  In this episode of The Insight: Conversations, Wayne Dahl (Assistant Portfolio Manager, Global Credit), Robert O’Leary (Portfolio Manager, Global Opportunities), and […]

112 downloads Howard Marks Oct 05, 2023
29m
Behind The Memo: Fewer Losers, or More Winners?

Behind The Memo: Fewer Losers, or More Winners?

In the latest episode of Behind the Memo, Howard discusses his recent memo: Fewer Losers, or More Winners?  He details the inspiration for the memo and explains why investors – like tennis players – need to consider their skill level, aspirations, and risk tolerance when asking themselves a fundamental question: Should I go for more […]

124 downloads Howard Marks Sep 20, 2023
30m
Fewer Losers, or More Winners?

Fewer Losers, or More Winners?

In his latest memo, Howard Marks discusses the essential choice in both investing and sports: should you go for more winners or try to eliminate losers? That is, should you emphasize aggressiveness or defensiveness? This is a key decision that every investor has to make thoughtfully, and the answer can be different for each person.   The memo […]

126 downloads Howard Marks Sep 12, 2023
35m
The Insight: Conversations – European Credit at a Turning Point

The Insight: Conversations – European Credit at a Turning Point

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 […]

129 downloads Howard Marks Sep 08, 2023
42m
The Insight: Conversations – Fighting the Fed with Armen Panossian, Danielle Poli, and Megan Messina

The Insight: Conversations – Fighting the Fed with Armen Panossian, Danielle Poli, and Megan Messina

Armen Panossian (Head of Performing Credit), Danielle Poli (Assistant Portfolio Manager, Global Credit), and Megan Messina (Head of CLO Capital Markets) discuss topics from the 2Q2023 Performing Credit Quarterly.  They consider the current tug-of war between fiscal and monetary policy, opportunities in credit, and what many investors are getting wrong about today’s CLO market.

159 downloads Howard Marks Aug 08, 2023
34m
Taking The Temperature

Taking The Temperature

In his latest memo, Howard Marks discusses five market calls he’s made during his career. He argues that investors seeking to take the temperature of the market should focus on understanding prevailing market psychology and the nature of cycles. Just as importantly, they should learn to control their own emotions and have the humility to know […]

223 downloads Howard Marks Jul 10, 2023
49m
The Insight: Conversations – This Time Might Be Different with Howard Marks and David Rosenberg

The Insight: Conversations – This Time Might Be Different with Howard Marks and David Rosenberg

David Rosenberg, co-portfolio manager of Oaktree’s U.S. and Global High Yield strategies, and Howard Marks discuss topics from the June 2023 edition of The Roundup. They consider the evolution of the high yield bond market, investor optimism and why this time might actually be different in financial markets.

170 downloads Howard Marks Jun 27, 2023
33m
Suggested Stories

Who would have guessed laws required companies to request...

DisinterestedSep 25, 2022
0 mins read

The question of whether abortion should be legal has been...

DanielJun 26, 2022
4 mins read

Four-time major winner Brooks Koepka has also left the PG...

sportislife15Jun 26, 2022
0 mins read

The subsidisation of unreliable “renewable” power is why ...

DisinterestedJun 19, 2022
0 mins read

LIV Golf is off to a good start, whatever the PGA Tour an...

sportislife15Jun 11, 2022
4 mins read

All governments eventually lose power, but the Liberal Pa...

DanielMay 29, 2022
4 mins read