The Memo by Howard Marks
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,
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Investing
Management
Business
Behind the Memo: The Indispensability of Risk with Howard Marks, Bruce Karsh, and Maurice Ashley
Oaktree's Howard Marks and Bruce Karsh Discuss "The ...
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Jul 23 2024 32m
Chapter 1 8 mins
Lessons on Risk and SacrificeChapter 2 6 mins
The Art of Risk and RewardChapter 3 7 mins
The Value of Risk and SacrificeChapter 4 8 mins
Chess, Investing, and the JourneyChapter 5 56 sec
Past Performance and Future Outlook 
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The Folly of Certainty
Howard Marks's Memo "The Folly of Certainty"
Jul 17 2024 19m
Chapter 1 17 mins
The Folly of CertaintyChapter 2 1 min
Investment Disclaimer and Educational Purpose
The Insight: Conversations - Oaktree Conference 2024 Edition
The Insight: Select Discussions from Oaktree Confere...
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Jul 2 2024 39m
Chapter 1 15 mins
Financial Markets Sea Change AnalysisChapter 2 9 mins
Current Trends in High Yield MarketChapter 3 5 mins
Opportunistic Credit and Liability ManagementChapter 4 5 mins
Rescue Lending vs Direct LendingChapter 5 2 mins
Oaktree Insights Conference Recap
Bonus Episode: Howard Marks on “In Good Company”
Howard Marks on the "In Good Company" Podcast
Jun 18 2024 41m
Chapter 1 13 mins
Investment Philosophy and Market CyclesChapter 2 6 mins
Navigating Risk Management and Market SentimentChapter 3 17 mins
Mastering Risk and Contrarian InvestingChapter 4 2 mins
Navigating the Financial Puzzle
The Impact of Debt
Howard Marks's Memo "The Impact of Debt"
May 8 2024 16m
Chapter 1 14 mins
The Impact of Debt and RiskChapter 2 1 min
Investment Disclaimer for Howard Marks' Podcast
The Insight: Conversations – Volatility Ahead? Featuring Howard Marks, Armen Panossian, and David Rosenberg
Oaktree's Howard Marks, Armen Panossian and David Ro...
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May 6 2024 31m
Chapter 1 14 mins
Understanding Uncertainty in Financial MarketsChapter 2 5 mins
Credit Investor Concerns and OpportunitiesChapter 3 9 mins
Credit Markets Trends and AnalysisChapter 4 1 min
Oaktree Investment Disclaimer Notice
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The Indispensability of Risk
Howard Marks's Memo "The Indispensability of Risk"
Apr 17 2024 12m
Chapter 1 10 mins
Understanding the Indispensability of RiskChapter 2 1 min
Investment Disclaimer in Podcast Episode
The Archive: You Bet!
Howard Marks's Memo "You Bet!"
Mar 21 2024 47m
Chapter 1 11 mins
Influences of Decision-Making in LifeChapter 2 5 mins
Understanding Decisions in UncertaintyChapter 3 14 mins
The Role of Skill in GamblingChapter 4 13 mins
The Art of Investing and GamblingChapter 5 2 mins
The Complexity of Investing
Behind the Memo: Easy Money with Howard Marks and Edward Chancellor
Oaktree's Howard Marks and author Edward Chancellor ...
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Feb 8 2024 36m
Easy Money
Howard Marks's Memo "Easy Money"
Jan 9 2024 56m
Chapter 1 15 mins
The Impact of Low Interest RatesChapter 2 15 mins
Low Rates' Impact on InvestmentsChapter 3 17 mins
The Effects of Low Interest RatesChapter 4 6 mins
Interest Rates and Investment Strategies ImplicationsChapter 5 1 min
Oak Tree's Disclaimer and Restrictions
The Insight: Conversations – Walking into the Unknown with Howard Marks, David Rosenberg, and Aman Kumar
Oaktree's Howard Marks, David Rosenberg and Aman Kum...
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Jan 4 2024 35m
Chapter 1 12 mins
Challenging Perceptions in InvestingChapter 2 7 mins
Impact of Pandemic on Credit MarketsChapter 3 4 mins
Market Rally, Interest Rates, Consumer SpendingChapter 4 10 mins
Life Sciences Lending and Market Trends
The Insight: Conversations – Special Episode with Annie Duke and Howard Marks
Oaktree's Howard Marks and author Annie Duke discuss...
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Dec 6 2023 51m
Chapter 1 6 mins
Exploring Decision Quality and UncertaintyChapter 2 3 mins
Success, Decisions, and Reputation in InvestingChapter 3 6 mins
Luck and Skill in Decision MakingChapter 4 7 mins
Embracing Uncertainty and Making Informed DecisionsChapter 5 4 mins
Improving Decision Making Through CollaborationChapter 6 8 mins
Improving Decision Quality and Risk ManagementChapter 7 12 mins
Quantifying Subjective Judgments and RiskChapter 8 2 mins
Restrictions and Disclaimers for Investment Advice
The Insight: Conversations – Full Return World with Howard Marks and Armen Panossian
Oaktree's Howard Marks and Armen Panossian Discuss "...
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Nov 2 2023 31m
Further Thoughts on "Sea Change"
Howard Marks's Memo "Further Thoughts on ‘Sea Change...
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Oct 11 2023 33m
Chapter 1 18 mins
The Sea Change in Investment EnvironmentChapter 2 13 mins
The Sea ChangeChapter 3 1 min
Key Points From Howard Marks' Memo
The Insight: Conversations – Credit Picker’s Market with Wayne Dahl, Robert O’Leary, and Mark Jacobs
Oaktree’s Wayne Dahl, Robert O'Leary and Mark Jacobs...
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Oct 5 2023 29m
Chapter 1 9 mins
Volatile Interest Rates and Credit LandscapeChapter 2 10 mins
Opportunistic Credit LandscapeChapter 3 6 mins
Opportunities and Misconceptions in Real EstateChapter 4 38 sec
Buy High-Quality Assets
Behind The Memo: Fewer Losers, or More Winners?
Howard Marks Discusses “Fewer Losers, or More Winner...
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Sep 20 2023 30m
Chapter 1 11 mins
Balancing Offense and Defense in InvestingChapter 2 5 mins
Winners in Tennis and InvestingChapter 3 11 mins
Balancing Winners and Losers in InvestingChapter 4 55 sec
Podcast Disclaimer
Fewer Losers, or More Winners?
Howard Marks's Memo "Fewer Losers, or More Winners?"
Sep 12 2023 35m
Chapter 1 16 mins
Risk Control and Investing WinnersChapter 2 11 mins
Winners, Losers in Tennis and InvestingChapter 3 6 mins
Markets and Alpha in Investing EfficiencyChapter 4 55 sec
Legal Disclaimer for Podcast
The Insight: Conversations – European Credit at a Turning Point
The Insight: Conversations - European Credit at a Tu...
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Sep 8 2023 42m
Chapter 1 5 mins
Insights on European Credit MarketChapter 2 9 mins
Macro Forces' Impact on Financial MarketsChapter 3 3 mins
Lending and Private Equity ConcernsChapter 4 6 mins
Exploring Opportunities and Risks in MarketsChapter 5 7 mins
Underwriting Challenges and Default RisksChapter 6 9 mins
Market Trends and Risks
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The Insight: Conversations – Fighting the Fed with Armen Panossian, Danielle Poli, and Megan Messina
Oaktree’s Armen Panossian, Danielle Poli, and Megan ...
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Aug 8 2023 34m
The Insight: Conversations – This Time Might Be Different with Howard Marks and David Rosenberg
Oaktree’s Howard Marks and David Rosenberg discuss t...
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Jun 27 2023 33m
The Insight: Conversations – Cutting Through the Economic Noise with Wayne Dahl
Oaktree’s Wayne Dahl and Anna Szymanski discuss how ...
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May 25 2023 35m
Chapter 1 7 mins
Economic Trends and Credit MarketsChapter 2 15 mins
Interpreting Economic Data NuancesChapter 3 9 mins
Navigating Uncertainty in Credit InvestingChapter 4 2 mins
Investment Disclaimer and Restrictions
The Insight: Conversations – Performing Credit Quarterly 1Q2023
Oaktree’s Armen Panossian and Howard Marks Discuss t...
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Apr 20 2023 35m
Chapter 1 11 mins
The Effects of Easy MoneyChapter 2 5 mins
The Challenges of Easy MoneyChapter 3 10 mins
Direct Lending Impact on Asset ClassesChapter 4 5 mins
Believing No Risk ExistsChapter 5 2 mins
Bargains in Difficult Times
Lessons from Silicon Valley Bank
Howard Marks's Memo "Lessons from Silicon Valley Ban...
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Apr 17 2023 44m
Chapter 1 13 mins
Managing Bank RisksChapter 2 16 mins
Causes of SVB's CollapseChapter 3 13 mins
Credit Suisse Takeover ImpactChapter 4 1 min
Risks and Responsibilities of Investing
The Rewind: Calling The Market
Howard Marks Discusses Memos Related to Making Marke...
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Mar 7 2023 39m
Chapter 1 13 mins
The Danger of Not Heeding HistoryChapter 2 9 mins
The Logic of InvestingChapter 3 12 mins
Power of the Fed FallacyChapter 4 2 mins
Psychology and History of Market Extremes