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Opinion
Lisa Abramowicz

How to Mint Money in Mining

Firm guarantees return over other bondholders.

Howard Marks became a billionaire for a reason.

He swoops into difficult corporate situations, often with more cash and power than anyone else involved. And his firm, Oaktree Capital Management, usually emerges with big profits. That’s good news for him, less good for ordinary bondholders who feel they get steamrolled when the companies go south.