Howard Marks

CO-FOUNDER AND CO-CHAIR OF OAKTREE CAPITAL MANAGEMENT AND AUTHOR OF ‘MASTERING THE MARKET CYCLE: GETTING THE ODDS ON YOUR SIDE’

The choice between ownership or debt is subjective, largely a function of the investor’s circumstances and attitude towards bearing risk.

There are only two asset classes: ownership and debt

2024-10-25T21:00:00.000Z
The magnification of gains and losses stemming from leverage is typically symmetrical. A given amount of leverage amplifies gains and losses similarly. But levered portfolios face a downside risk to which there is not a corresponding upside: the risk of ruin.
WEALTH & INVESTING

Why investors should exercise restraint on debt

2024-05-09T21:00:00.000Z
Easy money keeps the economy aloft, at least temporarily.
WEALTH & INVESTING

Say farewell to the corrupting era of easy money

2024-01-12T00:00:00.000Z
Investors can now potentially get solid returns from credit instruments, and no longer have to rely as heavily on riskier investments to achieve their overall return targets.
WEALTH & INVESTING

A sea change is under way in markets

2022-12-16T02:00:00.000Z