Howard Marks

Howard Marks

Last Update: 11-13-2015

Number of Stocks: 63
Number of New Stocks: 6

Total Value: $4,318 Mil
Q/Q Turnover: 4%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Howard Marks Watch

  • New Release: GuruFocus App for Android and iPhone

    You can’t always sit down at your laptop to check out the latest news, guru trades and analysis from That’s why our developers have brought our members the GuruFocus app, available today for both Android and iPhone.

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  • Howard Marks Interview With Bloomberg

    Co-founder of Oaktree Capital Howard Marks (Trades, Portfolio) recently appeared on Bloomberg. He discussed why he believes the high yield market will turn down, which will create opportunities for investors to acquire assets for cheaper. He also discussed the hedge fund industry as a whole.

    Interview with Bloomberg:


  • Howard Marks Sees Changes Happening in High Yield Market as 'Very Healthy'

    Howard Marks (Trades, Portfolio) has recently noted that we are nearing the peak of the credit cycle.

    What he's seeing in the market today is healthy activity where investors are considering the potential for reward but also thinking first about risk.


  • 'Weeding Out' of Hedge Funds Possibly Coming: Howard Marks

    Howard Marks (Trades, Portfolio), founder of Oaktree Capital, tells Bloomberg there are probably too many hedge funds and some with not stellar management.

  • The Most Important Thing Is ...

    Howard Marks (Trades, Portfolio) is a billionaire guru and the author of the classic book "The Most Important Thing." Warren Buffett (Trades, Portfolio) and Charlie Munger (Trades, Portfolio), longtime investment partners at Berkshire Hathaway (NYSE:BRK.B), agree that this is a great book worth reading.

    Marks is the co-founder of Oaktree Capital (NYSE:OAK), an investment firm that was formed in 1995 by a group of individuals who had been investing together since the mid-1980s in high yield bonds, convertible securities, distressed debt, real estate, control investments and listed equities.


  • Howard Marks Buys 6 New Stocks

    Prominent investor Howard Marks (Trades, Portfolio), co-chairman of global alternative investment firm Oaktree Capital Management, added six new positions to his portfolio in the third quarter, he reported Monday morning.

    At the end of the third quarter, Oaktree had assets under management of $100.2 billion, and a portfolio with 63 stocks, valued at $4.32 billion. The largest positioning of the long portfolio is in real estate, at 34.7% of holdings, followed by consumer cyclical at 15.4% and financial services at 14.1%.


  • 5 Unconventional Books to Make You a Better Investor

    Most of us have read classic value investing books such as the "The Intelligent Investor" by Ben Graham and "The Most Important Thing," by Howard Marks. I’ve enjoyed reading those classics and learned tremendously from them. I’ve also bumped into a few unconventional books, however, that I think are worthwhile to read. Some of them are not necessarily directly value investing-related, but they certainly helped me in terms of better thinking as an investor. Here is the list and a brief summary of why I think they are great reads.

    1. "Filters Against Folly" by Garrett Hardin, one of Charlie Munger (Trades, Portfolio)’s favorite writers


  • Move Forward With Caution – The Current Mantra From Howard Marks

    Howard Marks (Trades, Portfolio) thinks that, while today nobody is really all that bullish on the outlook, everyone has had to act bullish because of zero interest rates.

    To achieve any return investors have had to go out on the risk spectrum, when valuations might suggest that it is a time to be more conservative.


  • Howard Marks: Inspiration From the World of Sports

    I’m constantly intrigued by the parallels between investing and sports. They’re illuminating as well as fun, and thus they’ve prompted two past memos: “How the Game Should Be Played” (May 1995) and “What’s Your Game Plan?” (September 2003). In the latter memo, I listed five ways in which investing is like sports:

  • Atwood Oceanics – Value Hidden in Plain Sight

    Atwood Oceanics (NYSE:ATW) is a global offshore drilling contractor based in Houston. It is engaged in the business of leasing its rigs to oil companies, who then drill the oil out of the ground. Atwood has a fleet of 13 modern rigs, employed in a wide range of areas around the world. Recently Atwood’s stock has been hammered due to the tailspin of oil prices and the general uncertainty related to the oil market. This might present a good opportunity for value-oriented investors.

    The industry in which Atwood operates, is dominated by risks the individual company has no control over, such as oil prices. However, what Atwood has done, as opposed to its competitors, is to lock in long-term contracts when the oil price was high. Therefore it can benefit from a stable source of income, even as the oil price hits daily lows, and the competition struggles. Furthermore, it has a wide range of clients, which means it has mitigated the risk of relying too heavily on one customer.


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