Howard Marks

Howard Marks

Last Update: 2014-06-09

Number of Stocks: 75
Number of New Stocks: 7

Total Value: $2,581 Mil
Q/Q Turnover: 7%

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

Howard Marks' s Profile & Performance

Profile

Chairman of Oaktree Capital Management LP. Since the formation of Oaktree in 1995, Mr. Marks has been responsible for ensuring the firm's adherence to its core investment philosophy, communicating closely with clients concerning products and strategies, and managing the firm.

Web Page:http://www.oaktreecapital.com/

Investing Philosophy

Oaktree Capital is involved in less efficient markets and alternative investments. The firm invests heavily in debt, preferred stocks, and convertible bonds.

Total Holding History

Top Ranked Articles

Howard Marks of Oaktree – What's Behind the Downturn
Re: What’s Behind the Downturn? In May, I observed in “How Quickly They Forget” that investors had returned to pro-risk behavior despite the lingering presence of significant macro worries. And then just three months later, a number of exogenous events caused the markets to undergo a significant decline and one of the greatest paroxysms of volatility ever seen. All of the reasons existed well before. Investors simply hadn’t taken them to heart. Read more...
Buffett Indicator and Shiller P/E Both Imply Long Term Negative Market Returns; 2014 Market Valuation
What a great year it was! The market was up 30%, the best year since the go-go years of 1990s.The good news is that our account balance is higher, investors are more bullish. The bad news is that we will see lower future returns. Read more...
12 Takeaways from Howard Marks’ Recent Memo: It’s All a Big Mistake
Oaktree Capital’s Howard Marks is one of the clearest thinkers on Wall Street. He has excoriated the Efficient market Theory in his regular memos, and has stressed the importance of second level thinking in his memos and book, “The Most Important Thing.” Marks typically releases about a half dozen missives per year, in addition to the firm’s investor letters. On June 20, his most recent memo came out, entitled “It’s All a Big Mistake.” You can get Marks’ memos going back to 1991 on Oaktree’s website. I encourage you to do so. They will make you a better investor. Read more...
The Problem with the Deficit? It’s Not Big Enough
Numerous quotes, commentaries, presentations, and letters by some great investors, such as Whitney Tilson, Howard Marks, and Arnold van den Berg, discuss the deficit, national debt, and the “unfunded entitlement” problems that are supposedly facing our economy. These great investors, who have been successful in analyzing businesses and corporate financial statements, make the mistake of applying their same reasoning directly to the U.S. Federal Government. This type of analysis leads to many errors because of one, crucial, overlooked detail: The finances of the Federal government in no way resemble that of a corporation. It’s like comparing apples to giraffes. Any comparison is illogical, impossible, and nonsensical. Read more...
What is Howard Marks of Oaktree Capital Worried About?
(GuruFocus, January 25, 2010) Oaktree Capital Management Howard Marks recently published a letter to his investors, entitled “Tell me I’m Wrong”. In the letter, Marks treated a subject he usually avoids: the future of the US economy, and in particular, he focused on the negative elements and reminded the reader once again that he is a worrier. Here are the things that worry him: Read more...
» More Howard Marks Articles

Commentaries and Stories

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The Sword-Finance, its Sheath-Accounting, and the Shield-Tax Planning: Lesson 1 When to Sell and Investing Tax Tips
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VALUE INVESTING, FUNDMENTAL ANALYSIS, TAXES, TAX PLANNING


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Howard Marks - The Day of Reckoning Is Always Coming, the Only Question Is Where and at What Level
Following the tech bubble collapse and then the housing bubble collapse, investors have learned that it is important to pay attention to macro issues. More...

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Morning Coffee: Real-Time Picks Howard Marks,Mario Gabelli - Morning Coffee: Real-Time Picks
This morning we are going to take a look at the latest Real-Time Picks from the gurus: More...

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Howard Marks' 7 New Stock Buys Howard Marks - Howard Marks' 7 New Stock Buys
Howard Marks (Trades, Portfolio) is the chairman of Oaktree, a management firm with $86 billion in assets. In his most recent memo, “Dare to Be Great II,” he shared a secret to his investing success: More...

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A Crash Course in Buying Spin-Offs Edward Lampert,Howard Marks - A Crash Course In Buying Spin-Offs
Following the herd is the surest way of achieving mediocre performance. To produce superior returns, we have two options. More...

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Oaktree's Howard Marks Joins the Milken Institute Panel on Leadership
The video below is the grand finale of the Milken Institute for 2014. More...

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Oaktree's Howard Marks - How an Investor Can Stand Out from the Rest of the Crowd
Howard Marks (Trades, Portfolio) recently wrote a memo titled "Dare to Be Great II." More...

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Howard Marks Interview: Dare to Be Great? Is The Market Rigged? Howard Marks - Howard Marks Interview: Dare To Be Great? Is The Market Rigged?
Howard Marks (Trades, Portfolio) interview on Bloomberg. Dare to Be Great? Is The Market Rigged? More...

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Success Often Depends on Choosing the Right Investment Horizon - Tocqueville Asset Management
With Age Comes Wisdom…Before Senility More...

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Howard Marks Memo: Dare to Be Great Part II
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Mexico’s Media Landscape is Changing, but Will it Affect Televisa’s Profits?
The Mexican legislative landscape has been changing over the past few months, and last week President Enrique Pena Nieto proposed a bill to rein in the country’s largest industry players, in order to reduce some of their concentrated market power. While Carlos Slim’s America Movil SAB de CV (ADR) (AMX) will likely suffer the most from bill, prohibiting his firm to enter the TV industry until 2016, Grupo Televisa, S.A.B. (TV) will also have to pull back on its market expansion, in order to make room for new market entrants. However, many investment gurus like Pioneer Investments (Trades, Portfolio) and Howard Marks (Trades, Portfolio) remain confident that the TV giant will continue to do well in the future, More...

TELEVISION,PAY-TV,CABLE,MEDIA,MEXICO,BROADCAST CHANNELS,UNIVISION


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Howard Marks on Luck, Risks and the Job That Got Away
In 1969, Howard Marks (Trades, Portfolio) — armed with degrees from Wharton and the University of Chicago’s Booth School of Business – was still unsure what career he wanted to pursue. He interviewed for “literally seven different jobs in seven different fields,” including consulting, accounting, treasury management and investment banking, among others. There was one job, Marks said, that he wanted more than all the others. He did not get it. More...

HOWARD MARKS


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Global Market Valuations and Expected Returns – March 6, 2014 Daniel Loeb,Howard Marks - Global Market Valuations And Expected Returns – March 6, 2014
In January 2014, the U.S. stock market benchmark S&P 500 lost 3.36% after an excellent 2013. The enthusiasm went back as the market gained 4.31% over February. The S&P 500 continuously hit new highs. What is the situation in the other parts of the world? In February, the key indexes in Europe surged. Germany’s DAX index increased 4.14%. France’s CAC-40 index gained 5.82%. The FTSE 100 index was up 4.60%. Stock markets performances in Asia were weak when compared with in Europe. Japan’s NIKKEI 225 moderately decreased 0.49%. Hong Kong’s Hang Seng Index gained 3.64% and China’s SSE Composite index was up 1.14%. More...

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Weekly Guru Bargains Highlights: VOD, EC, PBR
According to GuruFocus updates, these stocks have declined the most since Gurus have bought. More...

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Howard Marks interview by Christoph Gisiger
Christoph Gisiger conducted the following interview with Howard Marks (Trades, Portfolio) in last week of February 2014. Christoph is from Finanz und Wirtschaft, a Swiss paper. Howard Marks (Trades, Portfolio) is chairman of Oaktree Capital, author of “The Most Important Thing”, countless memos and a guru in the field of value investing. More...

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Howard Marks Thinks Value Investing Has Gotten Much Harder over the Course of His Career
Howard Marks (Trades, Portfolio) says his luckiest day in investing came when in 1978 his employer Citibank told him to check into junk bond king Mike Milken. More...

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Weekly Guru Bargains Highlights: PBR
According to GuruFocus updates, these stocks have declined the most since Gurus have bought them. More...

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Weekly Guru Bargains Highlights: PBR
According to GuruFocus updates, these stocks have declined the most since Gurus have bought. More...

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Rating: 4.5/5 (6 votes)

Caesers: A Case of Make It or Break It?
Managing a successful business in the domestic casino industry can be tricky, considering the discretionary nature of spending and cyclicality of this market. Although some industry giants, like MGM Resorts International (MGM) or Pinnacle Entertainment Inc. (PNK), have sustained their financial volumes over time, this is not the case of Caesars Entertainment Corp. (CZR). Ever since the 2009 recession, the company has been struggling to pay off its debt and generate free cash flow, causing investment gurus like Howard Marks (Trades, Portfolio) and Richard Perry (Trades, Portfolio) to sell out their company shares. Will this firm be able to regain its once powerful domestic market position, or More...

CASINO,LEISURE,ENTERTAINMENT,GAMING,LAS VEGAS,HARRAH'S,CAESARS,HORSESHOE


Add Notes, Comments or Ask Questions

User Comments

Goforit
ReplyGoforit - 4 months ago
Also, if you do not have the performance record, then how do you even know that they deserve to be in the Guru list? Maybe they should not be listed?
Goforit
ReplyGoforit - 4 months ago
How are premium members of GuruFocus supposed to evaluate the list of Gurus when more often than not there is no historical performance records. Most of the time the "profile/performance" tab does not have anything on performance. Why not? Maybe it should just be called the "profile" tab. This is very frustrating.

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