Masters in Business

Howard Marks on Cycles and Valuation

An amazing track record.

This week on our Masters in Business radio podcast we speak with Howard Marks of Oaktree Capital and the author of the highly regarded “The Most Important Thing.” We last had him in the studio July 2015, and we were overdue for a revisit. (You can hear that earlier interview here).

Marks, perhaps best known for his Chairman’s Memos, formed Oaktree Capital with his partners in 1995, investing in high-yield bonds, distressed debt and private equity. Oaktree now manages more than $100 billion in assets with average annual returns of more than 19 percent after fees during the past 22 years. That is, by any measure, an amazing track record.

The full podcast can be heard on iTunesSoundCloud and on Bloomberg. All of our earlier podcasts can be found on iTunesSoundCloud and Bloomberg.

This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.

    To contact the author of this story:
    Barry Ritholtz at britholtz3@bloomberg.net

    To contact the editor responsible for this story:
    James Greiff at jgreiff@bloomberg.net

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