When everything's going well and asset prices are soaring, investors tend to view the future as Rosie risk as their friend. As risk attitudes swing from high to low, so do opportunities for profit or loss. We had another year and a half to two years after you wrote this book where all assets offered prospectively low returns - just like your Japanese friends.
If a key to personal happiness is low expectations, then a key to investing may be realistic expectations. Howard Marks is the co-founder and co-chairman of Oaktree Capital Management. Motley Fool Director of Small Cap Research Bill Mann caught up with Marks to discuss: - Why higher interest rates created a “Sea Change” for investors - China’s economic miracle, and its impact on inflation - Lessons from the era of easy money - What life insurance companies can teach investors about risk
To read Howard Marks' latest memo, click here: https://www.oaktreecapital.com/insights/memo/sea-change Host: Bill Mann Guest: Howard Marks Producer: Ricky Mulvey Engineers: Rick Engdahl, Annie Franks
Learn more about your ad choices. Visit megaphone.fm/adchoices