霍华德·马克斯 (Howard Marks) howard-marks locked 0.0  

霍华德·马克斯 投资备忘录

Memo from Howard Marks

Oaktree Insights

 Political Reality Meets Economic Reality

 The Seven Worst Words in the World

 Investing Without People

 Latest Thinking

 Yet Again?

 There They Go Again... Again

 Lines in the Sand

 Expert Opinion

 Go Figure!

 Implications of the Election

 Political Reality

 Economic Reality

 What Does the Market Know?

 On the Couch

 Inspiration from the World of Sports

 It’s not Easy

 Risk Revisited Again

 Liquidity

 The Lessons of Oil

 Risk Revisited

 Dare to Be Great II

 Getting Lucky

 The Race Is On

 The Role of Confidence

 The Outlook For Equities

 High Yield Bonds Today

 Ditto

 A Fresh Start (Hopefully)

 On Uncertain Ground

 It's All A Big Mistake

 Déjà Vu All Over Again

 Assessing Performance Records A Case Study

 What Can We Do For You?

 It's All Very Taxing

 What's Behind the Downturn?

 Down to the Wire

 How Quickly They Forget

 On Regulation

 Open and Shut

 All That Glitters

 Hemlines

 It’s Greek to Me

 Warning Flags

 I’d Rather Be Wrong

 Tell Me I’m Wrong

 Touchstones

 So Much That’s False and Nutty

 Will It Work?

 The Long View

 Volatility + Leverage = Dynamite

 The Limits to Negativism

 Nobody Knows

 Plan B

 What Worries Me

 Doesn’t Make Sense

 The Aviary

 The Tide Goes Out

 Whodunit

 Now What?

 No Different This Time – The Lessons of ‘07

 Now It’s All Bad?

 It’s All Good

 It’s All Good . . . Really?

 Everyone Knows

 The Race to the Bottom

 Pigweed

 The New Paradigm

 Dare to Be Great

 You Can’t Eat IRR

 Returns, Absolute Returns and Risk

 It Is What It Is

 Risk

 Hindsight First, Please (or, What Were They Thinking?)

 A Case in Point

 There They Go Again

 Oaktree at Ten

 Hedge Funds: A Case for Caution

 Risk and Return Today

 The Happy Medium

 Us and Them

 Hey, Steward!!

 The Feeling's Mutual

 What’s Your Game Plan?

 The Most Important Thing

 What's Going On?

 Whad’Ya Know?

 Returns and How They Get That Way

 Etorre's Wisdom

 Quo Vadis?

 The Realist's Creed

 Learning From Enron

 You Can't Predict. You Can Prepare.

 What Lies Ahead?

 Notes from New York

 What's It All About, Alpha?

 Safety First . . . But Where?

 We're Not In 1999 Anymore, Toto

 Investment Miscellany

 Irrational Exuberance

 bubble.com

 How's the Market?

 Genius Isn't Enough (and Other Lessons from Long-Term Capital Management)

 Who Knew?

 Are You An Investor or a Speculator

 Will It Be Different This Time?

 The Value of Predictions II (or "Give That Man a Cigar")

 How the Game Should Be Played

 "How Does an Inefficient Market Get That Way?"

 "Risk in Today's Markets" Revisited

 Risk in Today's Markets

 Random Thoughts on the Identification of Investment Opportunities

 The Value of Predictions, or Where'd All This Rain Come From?

 Microeconomics 101: Supply, Demand and Convertibles

 First Quarter Performance

 The Route to Performance