Episode 58 · The Memo by Howard Marks
The Insight: Conversations - Oaktree Conference 2024 Edition
2 Jul 2024 · 39 min
Episode notes
The Insight: Select Discussions from Oaktree Conference 2024
The Memo by Howard Marks
by Oaktree Capital Management · English · Business
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…
More from The Memo by Howard Marks
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E60 · 23 Jul 2024 · 32 min
Behind the Memo: The Indispensability of Risk with Howard Marks, Bruce Karsh, and Maurice Ashley
Oaktree's Howard Marks and Bruce Karsh Discuss "The Indispensability of Risk" with Chess Grandmaster Maurice Ashley
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E57 · 18 Jun 2024 · 41 min
Bonus Episode: Howard Marks on “In Good Company”
Howard Marks on the "In Good Company" Podcast
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E55 · 6 May 2024 · 31 min
The Insight: Conversations – Volatility Ahead? Featuring Howard Marks, Armen Panossian, and David Rosenberg
Oaktree's Howard Marks, Armen Panossian and David Rosenberg discuss topics from Performing Credit Quarterly 1Q2024: Unusually Uncertain
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E79 · 22 Sep 2026 · 27 min
Shall We Repeal the Laws of Economics – Part III
In his latest memo, Howard Marks discusses recent attempts to rein in long-dated government bond yields. He affirms that the only sustainable solution is responding to the underlying factors pushing interest rates up, even if politically uncomfortable. Any other method simply represents an attempt to override the laws of economics – and that never works.
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E78 · 9 Apr 2026 · 39 min
What's Going on in Private Credit?
In his latest memo, Howard Marks discusses the evolution of the sub-investment grade credit market from its beginnings in the 1970s to its present state. He focuses on the rise of direct lending following the Global Financial Crisis, identifying the reasons for its fast growth but also the issues created by rapid capital deployment. Looking ahead, he describes the entwined fates of direct lending and private equity, with the performance of private equity portfolio companies being a key determiner of the future success of direct loans.You can read the memo here…
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E77 · 24 Mar 2026 · 33 min
Reflections on Oaktree Conference 2026 with Howard Marks
In this special episode of The Insight: Conversations, Howard Marks shares his reflections on themes from Oaktree’s recent client conference, including the evolution of the credit markets, the nature of mispricings, and the importance of leadership.
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E76 · 26 Feb 2026 · 46 min
AI Hurtles Ahead
In his latest memo – occasioned by massive changes he cites in just the 11 weeks since the last one – Howard Marks revisits the subject of AI, providing his observations on its essence and how it differs from previous technological innovations. He highlights AI’s immense power, speed, and autonomy; its limitations; and its potential implications for investing. He expresses conviction that AI is far from a fad, but also that investors must view its transformational potential against an assessment of the appropriateness of the prices of AI assets.You can read the memo here…
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