Money and Finance
- Howard Marks Comments...
Some comments from Howard Marks during Oaktree Capital Group's call yesterday: Howard S. Marks As you know, 2015 was generally challenging for the credit markets. The carnage in commodities, coupled with macroeconomic concerns about possible slowing...
- It’s Our Job As Contrarians To Catch Falling Knives...
Given some of Howard Marks' more recent comments, as well as some of Oaktree's recent investments in the distressed energy space, this excerpt from The Most Important Thing seemed worth revisiting:Skepticism is usually thought to consist of saying,...
- Oaktree's Responses To Oil Questions On Quarterly Conference Call
I thought these were worthwhile comments to share:Christopher Harris [Wells Fargo analyst] First question relates to the opportunity in energy you guys talk about there. Really just wanting the team to talk about how you guys have sort of managed...
- Howard Marks On Bloomberg (video)
Nov. 8 (Bloomberg) -- Howard Marks, chairman of Oaktree Capital Group LLC, the world’s largest distressed-debt investor, talks about Twitter Inc.'s initial public offering, the U.S. economy, and corporate bonds. Marks also talks about China and...
- Speech Notes: Howard Marks At Nyssa
Via Distressed Debt Investing: On April 5, Howard Marks, legendary investor and Chairman of Oaktree Capital Management, spoke at New York Society of Securities Analysts. He is also the author of the book, “The Most Important Thing: Uncommon Sense for...
Money and Finance
Treasure Hunters of the Financial Crisis
Five years ago, the global financial system was falling apart. Lehman Brothers had imploded. Banks had stopped lending. Foreclosure signs were as common as weeds on the front lawns of suburban homes.
And Bruce A. Karsh saw the buying opportunity of a lifetime.
Mr. Karsh, a low-key money manager from Los Angeles, had spent his career analyzing and trading the debt of companies. With the world economy buckling, the prices of corporate debt had plunged to levels suggesting that much of American industry was hurtling toward bankruptcy.
So Mr. Karsh, through his Oaktree Capital Management firm, plowed money into distressed debt at a torrid pace, investing more than $6 billion over a three-month stretch.
“Unless the second Great Depression lies ahead,” Howard S. Marks, Oaktree’s chairman, wrote to their clients on Oct. 6, 2008, “today’s purchases should produce substantial returns, and in a few years we’ll reminisce together about how easy it was to take advantage of the bargains of 2008-09.”
- Howard Marks Comments...
Some comments from Howard Marks during Oaktree Capital Group's call yesterday: Howard S. Marks As you know, 2015 was generally challenging for the credit markets. The carnage in commodities, coupled with macroeconomic concerns about possible slowing...
- It’s Our Job As Contrarians To Catch Falling Knives...
Given some of Howard Marks' more recent comments, as well as some of Oaktree's recent investments in the distressed energy space, this excerpt from The Most Important Thing seemed worth revisiting:Skepticism is usually thought to consist of saying,...
- Oaktree's Responses To Oil Questions On Quarterly Conference Call
I thought these were worthwhile comments to share:Christopher Harris [Wells Fargo analyst] First question relates to the opportunity in energy you guys talk about there. Really just wanting the team to talk about how you guys have sort of managed...
- Howard Marks On Bloomberg (video)
Nov. 8 (Bloomberg) -- Howard Marks, chairman of Oaktree Capital Group LLC, the world’s largest distressed-debt investor, talks about Twitter Inc.'s initial public offering, the U.S. economy, and corporate bonds. Marks also talks about China and...
- Speech Notes: Howard Marks At Nyssa
Via Distressed Debt Investing: On April 5, Howard Marks, legendary investor and Chairman of Oaktree Capital Management, spoke at New York Society of Securities Analysts. He is also the author of the book, “The Most Important Thing: Uncommon Sense for...