Howard Marks

Howard Marks

Last Update: 2015-03-02

Number of Stocks: 85
Number of New Stocks: 11

Total Value: $9,356 Mil
Q/Q Turnover: 37%

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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Why Howard Marks Thinks It May Take 10 Years Before You Know If You Are A Capable Investor Howard Marks - Why Howard Marks Thinks It May Take 10 Years Before You Know If You Are A Capable Investor
It is hard to imagine an occupation where experience is more valuable than investing. More...

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Investing Lessons of the Recent Oil Drop From Two Legendary Investors Howard Marks, Jeremy Grantham - Investing Lessons Of The Recent Oil Drop From Two Legendary Investors
The recent price drop of oil has taken the spotlight of the media almost everyday. Plenty of experts have expressed their opinions on why they think it dropped so fast and what “should” happen in the future. Personally I found most of them uninspiring as what they said reflect upon almost what the public knows. However, there are two brilliant memos from two legendary investors, Howard Marks (Trades, Portfolio) and Jeremy Grantham (Trades, Portfolio), who offered far superior insights on what happened to oil price and where it is headed for the future. I’ve taken the time to organize my notes on these two articles in a way that illustrates a few important topics in investing. This is by no means an article on oil per se. What I wanted to share with More...

HOWARD MARKS, JEREMY GRANTHAM


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Howard Marks Buys Stake in Homebuilder Century Communities Howard Marks - Howard Marks Buys Stake In Homebuilder Century Communities
Howard Marks (Trades, Portfolio), co-chairman of the $90 billion Oaktree Capital Management (OAK), on June 16 purchased 1,278,080 shares of a new stock, Century Communities (CCS), according to GuruFocus Real Time Picks. More...

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Howard Marks and His Top Four Heavily Weighted Stocks Howard Marks - Howard Marks And His Top Four Heavily Weighted Stocks
Howard Marks (Trades, Portfolio) of Oaktree Capital Management LP currently owns 78 stocks in his portfolio with a quarter-over-quarter turnover rate of 6%. More...

ETF OPTIONS PREFERRED SECTOR, FINANCIAL SERVICES SECTOR, BANKS, INDUSTRIALS


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Learning from Others’ Mistakes Charlie Munger,Howard Marks - Learning From Others’ Mistakes
“…the more hard lessons you can learn vicariously, instead of from your own terrible experiences, the better off you will be. I don’t know anyone who did it with great rapidity. Warren Buffett (Trades, Portfolio) has become one hell of a lot better investor since the day I met him, and so have I. If we had been frozen at any given stage, with the knowledge we had, the record would have been much worse than it is. So the game is to keep learning, and I don’t think people are going to keep learning who don’t like the learning process.” - Charlie Munger (Trades, Portfolio) More...

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Howard Marks – The Most Important Thing
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HOWARD MARKS, Video


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Both Buffett Indicator And Shiller P/E Continue to Imply Long Term Negative Market Returns; 2015 Market Valuation Howard Marks - Both Buffett Indicator And Shiller P/E Continue To Imply Long Term Negative Market Returns; 2015 Market Valuation
At the beginning of 2014, when we wrote our periodical market valuation article, we wrote “Buffett Indicator And Shiller P/E Both Imply Long Term Negative Market Returns.” But guess what, 2014 was another strong year for the market. The S&P 500 index was up more than 13%. This is after a 30+% gain in 2013. Since the market recovery in 2009, the stock market has been up for 6 consecutive years. Where do you stand with the market valuation and implied return at the beginning of 2015? More...

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Howard Marks: The Lesson of Oil Howard Marks - Howard Marks: The Lesson Of Oil
Oaktree Capital's Howard Marks (Trades, Portfolio) just released his memo: "The Lesson of Oil". His memos are must reads: More...

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Howard Marks Wouldn't Touch Russia With A Ten-Foot Pole Howard Marks - Howard Marks Wouldn't Touch Russia With A Ten-Foot Pole
Russian government debt now yields 17%. Howard Marks (Trades, Portfolio) isn't interested. More...

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Howard Marks – CFA Presentation: Dare To Be Great Howard Marks - Howard Marks – CFA Presentation: Dare To Be Great
Oak Tree's Howard Marks (Trades, Portfolio) presented to the CFA Institute this week and focused his talk on the following subjects: More...

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Howard Marks Buys 13 New Stocks in Q3 Howard Marks - Howard Marks Buys 13 New Stocks In Q3
Howard Marks (Trades, Portfolio) is the co-chairman of Oaktree, a firm with $93 billion in assets whose primary focus is risk control. He is also famous for regularly penning memos. In his September memo, “Risk Revisisted,” he wrote: More...

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Oaktree's Howard Marks Thinks Chinese Stocks Are Attractive Howard Marks - Oaktree's Howard Marks Thinks Chinese Stocks Are Attractive
Oaktree's Howard Marks (Trades, Portfolio) thinks that Chinese stocks remain attractively valued. With all of the talk of a Chinese real estate bubble and weak Chinese economy, most investors wouldn't be looking to buy Chinese stocks. More...

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Howard Marks Remarks Before Questions And Answers Howard Marks - Howard Marks Remarks Before Questions And Answers
Howard Marks (Trades, Portfolio) Chairman of Oaktree Capital Group remarks before Questions & Answers with wall street analysts. More...

HOWARD MARKS,VALUE INVESTING, LONG-TERM,OAKTREE CAPITAL GROUP,


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Howard Marks: Questions and Answers On Today's Conference Call
Howard Marks (Trades, Portfolio), chairman of Oaktree Capital Group (OAK): Questions and answers today from a conference call with investors and Wall Street analyists. More...

HOWARD MARKS,OAKTREE CAPITAL GROUP INC.,


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Is Walmart Still a Profitable Giant? Howard Marks - Is Walmart Still A Profitable Giant?
Every dollar invested in Walmart (WMT) on January 13, 1978, would have been multiplied by nearly 976 times today. Walmart is one of the most succesful business stories in America, and that’s exactly what makes it the perfect study case. More...

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A Hedge Fund Exposed to China-based Companies
Over the past days hedge funds have been filing their form 13-F, which is a quarterly report of equity holdings by filed institutional investment managers with at least $100 million in equity assets under management, as required by the United States Securities and Exchange Commission (SEC). In this article, let´s concentrate in one particular hedge fund and try to see the principal holdings in its portfolio. I will look into Shah Capital Management LLC. More...

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Howard Marks on Taking the High Road in Business and Investing
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HOWARD MARKS, Video


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Second-Level Thinking From Another Angle Howard Marks,Charlie Munger - Second-Level Thinking From Another Angle
In my last article I talked about how we could cultivate the routine of asking probing questions in order to think on another level. Asking the question “who doesn’t know that” is an idea I got from Howard Marks (Trades, Portfolio). While I think that is a good approach, I would also like to address this second level thinking idea from another angle, which I am fortunate enough to learn from one of the book recommendations from my hero Charlie Munger (Trades, Portfolio). This book is called Living Within Limits by Garrett Harding. More...

CHARLIE MUNGER, HOWARD MARKS


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A Few Thoughts on Second-Level Thinking Howard Marks,Warren Buffett - A Few Thoughts On Second-Level Thinking
In Chapter One of the Howard Marks (Trades, Portfolio) famous book The Most Important Thing, Howard talks about the importance of second-level thinking. To achieve better returns, you need “either good luck or superior insight.” Not only do you have to think differently, but also you have to think better. More...

BNSF, HOWARD MARKS


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Follow Howard Marks For A Possible Opportunity In Molycorp Howard Marks - Follow Howard Marks For A Possible Opportunity In Molycorp
Molycorp (MCP) announced the successful close of its $400 million financing arrangement with Howard Marks’ Oaktree Capital Management on Sept. 11. The deal gives Molycorp a lifeline that has created a boom or bust scenario as rare earth metal company works to increase production at its Mountain Pass facility. More...

Howard Marks, Molycorp, Oaktree, Oaktree Capital Management


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User Comments

Goforit
ReplyGoforit - 11 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 - 11 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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