AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
2min chapter
Howard Marks & Andrew Marks: Something of Value
Acquired
You Shouldn't Increase Your AUM in Bad Times
We tend to increase our AUM in bad times. And of course, that is the best time to put money to work. Or when you think there's going to be a bad time? Yes, that's right. In advance of bad times. Yeah. Most firms, if they have a very successful fund, will follow it up with another fund which is larger on the back of that. So I would say you should raise less money, not more. That's the way we operate. We don't always say, oh no, this is the time for our strategy. What's the perfect time for us? Oh, now, sometimes it is and sometimes it's not. And
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