Behind the Memo: What Really Matters?
The Memo by Howard Marks
00:00
The Long Run Is a Series of Short Runs
In the throes of the TMT bubble, one of the interesting phenomena was the day trader. All you did was bet on what was going to happen that day. At Oaktree, we don't consider ourselves market timers. We try to buy ownership stakes in companies that will become more valuable over time. That's a long-term focus.
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