AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
3min chapter
Howard Marks & Andrew Marks: Something of Value
Acquired
Chairman's Memos - When Did You Start Reading Them in 1990?
In 1990, I went to visit a client in the Midwest who told me that the pension fund he ran for 14 years was between the 27th percentile and the 47th percentile every year. And then right around the same time, there was a deep value firm in New York and they invested very heavily in the banks that year and the banks did horribly. The dichotomy between the implications of those two stories really caused me to write the first memo which is available at oaktreecapital.com under the heading of Chairman's memos.
00:00
Transcript
Episode notes
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode