Oaktree Capital

Join Oak Tree as we share our top book recommendations for 2025, featuring a diverse selection from biographies to science fiction. Each team member highlights their favorite reads, offering insights into the themes and significance of these works, perfect for any book lover's reading list.

In this insightful video, Howard Marks explores the potential bubble surrounding artificial intelligence, discussing the historic patterns of market bubbles and the investment behaviors that often lead to them. He emphasizes the dual nature of AI's bubble, focusing on the excitement it generates among companies and investors alike, and warns about the risks of excessive optimism versus the potential for disruptive technological advancement.

In this insightful episode of Insight by Otry Capital, co-CEO Armen Penosian and his colleagues explore the convergence of liquid and private credit markets, detailing the evolving landscape where distinctions blur between direct lending and broadly syndicated loans. The discussion highlights key trends, market dynamics, and the implications of this convergence for both borrowers and investors, emphasizing the importance of a diversified credit strategy in today's economic climate.

In this video, Howard Marx discusses recent bankruptcies in the subinvestment grade credit market, using the metaphor of "cockroaches in the coal mine" to indicate potential deeper issues within the financial sector. He emphasizes the need for greater prudence and credit analysis among investors, highlighting the cyclical nature of risk tolerance and the consequent defaults that often arise from periods of economic optimism.

In this insightful episode of Bloomberg Markets, Christina Lee, co-portfolio manager for Oaktree's US Private Debt Strategy, discusses the current landscape of private credit and the importance of due diligence in a competitive market. She emphasizes the need for experienced managers to navigate potential risks and the evolving relationship between private credit and traditional banking.

In this insightful video, Howard Marks shares his reflections on a recent meeting with a US state pension fund’s board, exploring their attitudes toward risk and investment strategies based on the results of a board member survey. He discusses key themes, including the importance of understanding risk tolerance and the prioritization of achieving actuarial return assumptions over peer comparisons, providing valuable lessons for investors and investment committees alike.

Join us for a special Oak Tree podcast celebrating 35 years of Howard Marks' influential memos that have shaped investment philosophy and discourse in finance. In this fireside chat, Howard reflects on his journey, the evolution of his writing, and key insights on risk and psychology in investing, providing invaluable perspectives for both new and experienced investors.

Join us for a special Oak Tree podcast celebrating 35 years of Howard Marks' influential memos, which have guided investors through significant financial events and crises. In this fireside chat, moderated by Harry Whitelaw, Howard discusses the genesis of his memos, the critical role of risk management in investing, and his evolving investment philosophy against the backdrop of historical market trends.

In this insightful memo, Howard Marks explores the complex relationship between asset value and price, emphasizing that intrinsic value is derived from fundamentals and earnings power rather than mere market sentiment. He presents an update on U.S. stock market valuations, addressing the psychological influences on investor behavior and the implications for future investment performance.