The Insight by Oaktree Capital
Conversations: Volatility Ahead? Featuring Howard Marks, Armen Panossian, and David Rosenberg
May 6, 2024
Howard Marks, Armen Panossian, and David Rosenberg discuss market uncertainties, economic trends post-2020, LTS's strategic shifts, credit market challenges, the value of patience in investing, and the impact of private debt on credit markets in an insightful and engaging podcast episode.
31:12
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Quick takeaways
- Acknowledge uncertainty to prevent extreme risks and foster balanced outcomes in markets.
- Economic classifications and market dynamics are evolving, challenging traditional frameworks and emphasizing technical factors.
Deep dives
Uncertainty in Markets and Importance of Doubt
In a discussion with Oaktree Co-chairman Howard Marks, the uncertainty in current markets due to various exogenous events like Ukraine, Gaza, and the Fed's actions is highlighted. Marks emphasizes the danger of being overconfident in predicting the future, stating that when people are convinced they know what will happen, it often leads to bubbles and crashes. He suggests that acknowledging uncertainty is healthier as it prevents extreme risks and contributes to more balanced outcomes.
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