Howard Marks

Howard Marks

Last Update: 05-12-2015

Number of Stocks: 68
Number of New Stocks: 9

Total Value: $6,206 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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Ray Dalio: My Most Fundamental Life Principles Ray Dalio,Howard Marks - Ray Dalio: My Most Fundamental Life Principles
In case you haven’t read them yet, Ray Dalio (Trades, Portfolio)’s Principles, which you can find here, are a compendium of advice on how to think differently, better and, therefore, beat the market and live a better life. As you may know, Dalio leads Bridgewater, one of the world’s most prominent hedge funds. After being successful over many years, there must be something that the firm is doing differently. Among other pecularities, Dalio has mentioned that he practices transcendental meditation and all the conversations (in every room) across Bridgewater are taped and made available for all the employees. More...

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The value investor’s tool box Howard Marks,Mohnish Pabrai,Bruce Berkowitz,Warren - The Value Investor’s Tool Box
We at Gurufocus have quite a solid idea as to what a value investor is, what he does and how he approaches investing. Nevertheless, I have compiled a list of tools that I believe should be in every Value Investor’s toolbox, and as such are the key skills needed to achieve outperformance, and continue to improve as a value-investor. More...

VALUE INVESTOR, BENJAMIN GRAHAM, WARREN BUFFETT, MOHNISH PABRAI, CHARLIE MUNGER, PETER LYNCH, LATTICEWORK, MENTAL MODELS


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Distressed-debt Investor Howard Marks Sells Five Holdings Howard Marks - Distressed-debt Investor Howard Marks Sells Five Holdings
Howard Marks (Trades, Portfolio) is the founder and chairman of Oaktree Capital Management, which is the world’s largest distressed-debt investor. More...

HOWARD MARKS, OAKTREE CAPITAL


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Locust Wood Capital Bet on Top Performer Valeant Pharmaceuticals HOWARD MARKS, WALLACE WEITZ, CHRIS DAVIS - Locust Wood Capital Bet On Top Performer Valeant Pharmaceuticals
Hedge fund Locust Wood Capital Advisers LLC disclosed an equity portfolio valued at some $792 million as of the end of the first quarter of 2015. The equity portfolio is mainly invested in Finance (29%), Consumer Discretionary (27%) and Health Care (17%) stocks. Two of the three main sectors are the same in which it invests Menta Capital LLC. More...

HEALTHCARE, STOCKS


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Howard Marks' Top 5 New Buys of First Quarter Howard Marks - Howard Marks' Top 5 New Buys Of First Quarter
Howard Marks (Trades, Portfolio) is the founder of Oaktree Capital Management, a management form with $99 billion in assets under management. The firm focuses on less efficient markets and alternative investments to achieve superior returns while minimizing risk. More...

NEW BUYS, STOCK


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Joel Greenblatt: Conversation With Whaton
Joel Greenblatt (Trades, Portfolio) recently sat down and had a conversation with Whaton which was moderated by legendary distree debt investor Howard Marks (Trades, Portfolio) of Oaktree Capital. Throughout the interview Joel Greenblatt (Trades, Portfolio) discussed a variety of topics ranging from diversification to capital allocation. More...

JOEL GREENBLATT,HOWARD MARKS,VALUE INVESTORS,VALUE INVESTING,WHATON,BILLIONAIRE,WARREN BUFFETT,CAPITAL,


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Grantham, Marks and Gundlach Reveal Their Biggest Investing Hits And Misses
From The Wall Street Journal: More...

Jeremy Grantham, Howard Marks


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A Conversation between Joel Greenblatt and Howard Marks Joel Greenblatt,Howard Marks - A Conversation Between Joel Greenblatt And Howard Marks
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Top Investors Share Their Learned Lessons from Success and Failure Jeremy Grantham, Howard Marks, Charlie Munger - Top Investors Share Their Learned Lessons From Success And Failure
The Wall Street Journal interviewed Rob Arnott, founder and chairman of Research Affiliates, Jeremy Grantham (Trades, Portfolio), chief investment strategist at GMO LLC, Howard Marks (Trades, Portfolio), Co-chairman at Oaktree Capital Management, and Jeffrey Gundlach, CEO of DoubleLine Capital LP and asked them about their greatest successes and failures, and the lessons that stemmed from those experiences. I found the article to be very enriching given what Munger mentioned about learning vicariously: More...

Jeremy Grantham, Howard Marks, Charlie Munger


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There Are No Compelling Bargains - Howard Marks Howard Marks - There Are No Compelling Bargains - Howard Marks
Howard Marks (Trades, Portfolio) is having a hard time finding bargains. In fact he doesn't really see any bargains today. More...

EUROPEAN STOCKS, INTERNATIONAL MARKET


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Securities in an Insecure World - Notes on a 1963 Lecture by Ben Graham Warren Buffett, Howard Marks - Securities In An Insecure World - Notes On A 1963 Lecture By Ben Graham
Recently, the Wall Street Journal published some notes from a lecture by Benjamin Graham that occured in 1963. In there, as usual, the brilliant insight of Mr. Graham shines across the lecture. Since it is a large document, I decided to share and comment some of the most important points from my point of view. More...

COMMON STOCKS


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Howard Marks Google Talk – The Most Important Thing Illuminated
Warren Buffett (Trades, Portfolio) has been quoted as saying that when he sees a memo from Howard Marks (Trades, Portfolio) it is the first thing that he opens and reads. More...

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The Newest Memo From Howard Marks – Liquidity Howard Marks - The Newest Memo From Howard Marks – Liquidity
My wife Nancy’s accusations of repetitiveness notwithstanding, once in a while I think of something about which I haven’t written much. Liquidity is one of those things. I’m not sure it’s a profound topic, and perhaps my observations won’t be either. But I think it’s worth a memo. More...

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The Importance of Experience – Howard Marks of Oaktree Capital Management Howard Marks - The Importance Of Experience – Howard Marks Of Oaktree Capital Management
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HOWARD MARKS, OAKTREE CAPITAL MANAGEMENT


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Howard Marks on importance of self-assessment, experience and criteria for long-term success in investing Howard Marks - Howard Marks On Importance Of Self-assessment, Experience And Criteria For Long-term Success In Investing
Howard Marks (Trades, Portfolio) is 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.The firm invests heavily in debt, preferred stocks and convertible bonds. In the following videos, he discusses the importance of self-assessment, experience and criterial of long-term success in investing. More...

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A Look At The Stocks Howard Marks Keeps Buying Howard Marks - A Look At The Stocks Howard Marks Keeps Buying
"I try every chance I get to convince people that, in investing, there's no such thing as a good idea ... or a bad idea. Anything can be a good idea at one price and time, and a bad one at another," Howard Marks of Oaktree Capital Management LP said in one of his notes he sends out to shareholders. More...

OAKTREE, STOCKS, HIGH CONVICTION, CONSUMER CYCLICAL


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Howard Marks Keeps Buying Stock Dropping to Two-Year Low Howard Marks - Howard Marks Keeps Buying Stock Dropping To Two-Year Low
Howard Marks (Trades, Portfolio), the chairman of Oaktree Capital who calls his investing approach “entirely bottom-up,” is continuing to build a stake in private mortgage insurer NMI Holdings Inc. (NMIH) as its stock posted an almost 20% total decline year to date. More...

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Undervalued Stocks in Howard Marks' Portfolio
Howard Marks (Trades, Portfolio) is the chairman of Oaktree Capital Management LP. Since the formation of Oaktree in 1995, 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. More...

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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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User Comments

Goforit
ReplyGoforit - 1 year 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 - 1 year 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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