MI365: The Memos of Howard Marks w/ Shawn O'Malley
The Intrinsic Value Podcast - The Investor’s Podcast Network
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Investor Psychology and Market Cycles
This chapter explores the insights from Howard Marks' 2005 memo, emphasizing the dangers of complacency and the cyclical nature of markets. It discusses how emotional extremes influence investor behavior, showcasing Oaktree Capital's defensive strategies before the 2008 crisis and the significance of contrarian thinking. By analyzing historical trends and market sentiments, the chapter highlights the opportunity for savvy investors during times of pessimism and the importance of understanding macroeconomic factors.
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