The Memo by Howard Marks

The Archive: You Bet!

In his 2020 memo You Bet!, Howard Marks explained what it means to “think in bets,” as he discussed the many parallels between investing and games of chance. Now you can listen to You Bet!, the first release from The Memo by Howard Marks: The Archive. We’ve received many requests for an audio library of the memos that Howard Marks has published over the last 34 years, so we’re going to begin building this archive by releasing audio versions of some of Howard’s most popular memos.To hear more about Howard’s thoughts on this memo, listen to his conversation with former professional poker player and best-selling author Annie Duke, whose 2018 book Thinking in Bets was the inspiration for the memo. This <a href="https://www.oaktreecapital.com/insights/insight-podcast/market-commentary/the-insight-conversations-special-episode-with-annie-duke-and-howard-marks" rel="noopener noreferrer" target="_blank">special episode</a> (https://www.oaktreecapital.com/insights/insight-podcast/market-commentary/the-insight-conversations-special-episode-with-annie-duke-and-howard-marks) of the The Insight: Conversations with Howard and Annie was released in December 2023.

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.