The Memo by Howard Marks

Bull Market Rhymes

Howard Marks’s latest memo explores recurring investment themes to contextualize the current market correction and the bull market that preceded it. He discusses the role played by financial innovations like SPACs and cryptocurrencies and why he believes psychology, not fundamentals, primarily drives investment cycles – and likely always will. The memo is read by LJ Ganser.You can read the memo <a href="https://www.oaktreecapital.com/docs/default-source/memos/bull-market-rhymes.pdf?sfvrsn=df8b4b66_9" rel="noopener noreferrer" target="_blank">here</a> (https://www.oaktreecapital.com/docs/default-source/memos/bull-market-rhymes.pdf?sfvrsn=df8b4b66_9).

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.