Howard Marks, chairman and co-founder of Oaktree Capital Management, is an interesting, pithy writer. We always read his occasional comments and musings on the investment markets, as they invariably include a great deal of reflection on past market conditions and perspectives. We found reviewing this recent publication worthwhile. If you’re pressed for time, you could go to “Recent Developments” on page 11 and read from there. If you’d like to read more of his work, it’s available here. We also enjoyed his book, The Most Important Thing: Uncommon Sense for the Thoughtful Investor.
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