Memo from Howard Marks: "Which Way Now?"

[peluche]

https://www.oaktreecapital.com/docs/default-source/memos/which-way-now.pdf

[thowed]

Can't remember him offering quite such a definitive opinion for a long time.

[mjohn707]

Can't remember him offering quite such a definitive opinion for a long time.

That was definitive for him?

 

[Santayana]

Thanks for sharing.  Nice to hear someone rationally talk through both sides while admitting that they don't really know what's going to happen.

[Kaegi2011]

Can't remember him offering quite such a definitive opinion for a long time.

That was definitive for him?

 

I'm not sure I'd go as far as thowed, but it's more directional than most of his letters.  Take a look at his letters for hte past three years.  Seems more hedged vs. this one. 

[mjohn707]

Can't remember him offering quite such a definitive opinion for a long time.

That was definitive for him?

 

I'm not sure I'd go as far as thowed, but it's more directional than most of his letters.  Take a look at his letters for hte past three years.  Seems more hedged vs. this one.

 

Marks ought to see if he can buy the Janus logo out of a bankruptcy sale or something, would suit his writing style

[thowed]

I'm not sure I'd go as far as thowed, but it's more directional than most of his letters.  Take a look at his letters for hte past three years.  Seems more hedged vs. this one.

 

Yes, I think you put the same sentiment more eloquently than me!

[spartansaver]

Change of mind?

 

https://www.oaktreecapital.com/docs/default-source/memos/calibrating.pdf

 

 

[mjohn707]

Change of mind?

 

https://www.oaktreecapital.com/docs/default-source/memos/calibrating.pdf

 

Channeling Walt Whitman here, he is large, he contains multitudes

[wescobrk]

Another proclamation from him the market is overvalued.

I guess he just likes to talk to the media to keep his name out there.

https://www.cnbc.com/2020/05/18/oaktrees-howard-marks-thinks-the-market-comeback-has-gone-too-far.html

[Gregmal]

Ive generally liked Marks, but he's making a total fool out of himself lately and giving off the impression that at this point he's just some degenerate day trader...