The Insight: Conversations – Volatility Ahead? Featuring Howard Marks, Armen Panossian, and David Rosenberg
Where are we in the market cycle? Why is it healthy to be uncertain? And what does it mean to actually “be opportunistic”? In the latest episode of The Insight: Conversations, Howard Marks (Co-Chairman), Armen Panossian (Co-CEO), and David Rosenberg (Head of Liquid Performing Credit) discuss these and other topics from the recently published Performing Credit Quarterly 1Q2024: Unusually Uncertain.
6 Mai 202431min
The Indispensability of Risk
In his latest memo, Howard Marks considers what chess can teach investors about the paradox of risk-taking. Drawing on insights from a recent Wall Street Journal article (https://www.wsj.com/sports/chess-teaches-the-power-of-sacrifice-221db7b7) by chess grandmaster Maurice Ashley, Howard explains why not taking enough risk may be one of the riskiest strategies of all.You can read the memo here (https://www.oaktreecapital.com/insights/memo/the-indispensability-of-risk).
17 Apr 202412min
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 special episode (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.
21 Mar 202447min
Behind the Memo: Easy Money with Howard Marks and Edward Chancellor
In this special episode of Behind the Memo, Howard Marks is joined by journalist and financial historian Edward Chancellor to discuss ideas from Howard’s recent memo, Easy Money, which was inspired by Edward’s book, The Price of Time: The Real Story of Interest. They explore the history of interest rates, the profound impact they’ve had on financial markets, and the potential dangers of keeping them too low.You can listen to "Easy Money" in the prior episode in this feed.
8 Feb 202436min
Easy Money
In his latest memo, Howard Marks considers what financial history can teach us about periods of easy money, the impact they have on investor behavior, and what happens when they end. He analyzes macroeconomic trends using insights from Edward Chancellor’s latest book The Price of Time: The Real Story of Interest to argue that we’re unlikely to soon see the return of the permissive investment climate that prevailed in recent decades.The memo is read by LJ Ganser.You can read the memo here (https://www.oaktreecapital.com/insights/memo/easy-money).
9 Jan 202456min
The Insight: Conversations – Walking into the Unknown with Howard Marks, David Rosenberg, and Aman Kumar
What is a “normal” investment environment? What might a recession in 2024 mean for liquid credit? What’s happening in life sciences lending today? Find out by listening to the latest episode of The Insight: Conversations with Howard Marks (Co-Chairman), David Rosenberg (Co-Portfolio Manager, Global Credit), and Aman Kumar (Co-Portfolio Manager, Life Sciences Lending). They discuss topics from the December edition of The Roundup: Top Takeaways from Oaktree’s Quarterly Letters and consider what investors should focus on as we enter 2024 – and what remains unknowable.
4 Jan 202435min
The Insight: Conversations – Special Episode with Annie Duke and Howard Marks
Special guest Annie Duke (former professional poker player, best-selling author) joins Howard Marks to discuss ideas from her book Thinking in Bets and Howard’s memo You Bet! They explore luck, decision quality, uncertainty, and more in this special episode of The Insight: Conversations.
6 Des 202351min
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, the tail risks building in today’s markets, and what it means to be in a full return world.
2 Nov 202331min
