The Memo by Howard Marks

Епизоди

• What's Going on in Private Credit? 09.04.2026 38мин

  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 (https://www.oaktreecapital.com/insights/memo/whats-going-on-in-private-credit). This episode uses an AI reader.
• Reflections on Oaktree Conference 2026 with Howard Marks 24.03.2026 32мин

  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.
• AI Hurtles Ahead 26.02.2026 46мин

  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 (https://oaktreecapital.com/insights/memo/ai-hurtles-ahead).
• Is It a Bubble? 09.12.2025 1ч 6мин

  Howard Marks's Memo "Is It a Bubble?"
• Cockroaches in the Coal Mine 06.11.2025 24мин

  Howard Marks's Memo "Cockroaches in the Coal Mine"
• A Look Under the Hood 28.10.2025 28мин

  Howard Marks's Memo, "A Look Under The Hood"
• 35 Years of Memos 14.10.2025 30мин

  Howard Marks Celebrates 35 Years of Memos with a Fireside Chat
• The Calculus of Value 14.08.2025 41мин

  Howard Marks's Memo, "The Calculus of Value"
• More on Repealing the Laws of Economics 18.06.2025 39мин

  Howard Marks's Memo, "More on Repealing the Laws of Economics"
• 30 Years of Oaktree 06.05.2025 22мин

  Oaktree's cofounders - Howard Marks, Bruce Karsh, and Sheldon Stone - share stories about the firm's origins
• Nobody Knows (Yet Again) 09.04.2025 35мин

  Howard Marks's Memo "Nobody Knows (Yet Again)"
• Gimme Credit 06.03.2025 29мин

  Howard Marks's Memo "Gimme Credit"
• Behind The Memo: On Bubble Watch 27.02.2025 25мин

  Howard Marks Discusses "On Bubble Watch"
• On Bubble Watch 07.01.2025 35мин

  Howard Marks's Memo "On Bubble Watch"
• Ruminating on Asset Allocation 22.10.2024 26мин

  Howard Marks's Memo "Ruminating on Asset Allocation"
• Shall We Repeal The Laws of Economics? 19.09.2024 55мин

  Howard Marks's Memo "Shall We Repeal The Laws of Economics"
• Behind The Memo: The Impact of Debt with Howard Marks and Morgan Housel 27.08.2024 39мин

  Oaktree's Howard Marks and Author Morgan Housel Discuss "The Impact of Debt"
• Mr. Market Miscalculates 22.08.2024 26мин

  Howard Marks's Memo "Mr. Market Miscalculates"
• Behind the Memo: The Indispensability of Risk with Howard Marks, Bruce Karsh, and Maurice Ashley 23.07.2024 32мин

  Oaktree's Howard Marks and Bruce Karsh Discuss "The Indispensability of Risk" with Chess Grandmaster Maurice Ashley
• The Folly of Certainty 17.07.2024 19мин

  Howard Marks's Memo "The Folly of Certainty"