Brookfield approached us and said credit was the obvious omission in their list of alternative investment categories that they were providing. So they wanted to invest in Oaktree. At that time, this was 2018, we were half owned by the public and halfowned by the founders, current and former employees. They proposed to offer a fair price to take out the public. And also, as I said, they bought 20% of my stake, Bruce's stake, et cetera.
We sit down with legendary investor Howard Marks of Oaktree Capital and his son Andrew who, while less-well-known, is also an incredibly accomplished investor in a very different arena: early-stage VC. The purpose of the conversation was to discuss their joint work together on Howard’s all-time most popular memo, “Something of Value”, which made the then-shocking argument that Value and Growth investing are not diametric opposites but rather two sides of the same investing coin. We of course dive deep into that, and also cover plenty of fun Oaktree and investing history, as well as Andrew’s favorite topic: selling (or not selling, as the case may be). This is not one to miss!
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Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.