Howard Marks
Definition
Howard Marks is an American investor, philanthropist, and the co-founder and co-chairman of Oaktree Capital Management, a leading global alternative investment firm specializing in distressed debt and credit strategies.
He is renowned for his quarterly 'memos' to investors, which offer profound insights on market psychology, risk management, and contrarian thinking, as compiled in his bestselling book 'The Most Important Thing'.
Examples
When the market's in freefall, I pretend to be Howard Marks, scribbling memos about why panic is for amateurs.
My broker suggested diversifying, but I replied, 'Howard Marks says second-level thinking is where the real alpha hides—pass the distressed debt.'
Reading Howard Marks before bed is my ritual: part investing wisdom, part therapy for overconfident day traders.
Howard Marks wouldn't chase meme stocks; he'd probably buy the farm while everyone else is tweeting to the moon.