The Insight by Oaktree Capital

Oaktree Capital
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Oct 14, 2025 • 31min

35 Years of Memos

Join Howard Marks, co-founder of Oaktree Capital and a legendary figure in investing, as he reflects on 35 years of influential memos. Discover the origins of his writing journey and the importance of clarity in communication. He shares insights on investor psychology, warning against the dangers of market bubbles and emphasizing the need for contrarianism. Marks also discusses the impact of rising interest rates on investment opportunities and the significance of second-level thinking in achieving alpha.
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33 snips
Oct 9, 2025 • 34min

Undercurrents

In this discussion, Steve Tesoriere, Co-Portfolio Manager, shares insights on the bifurcation in equity markets, emphasizing AI's dual role in growth and investment risks. Olivia Guthorn, Managing Director, delves into healthcare's evolving landscape, highlighting the impact of private equity and recent policy changes. Justin Guichard, Co-Portfolio Manager, discusses the resurgence in commercial real estate, focusing on investor demand for new CMBS supply and contrasting the performance of office and residential sectors.
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12 snips
Aug 21, 2025 • 30min

On the Lookout

In this discussion, Armen Panossian, Co-CEO and Head of Performing Credit at Oaktree Capital, and David Rosenberg, Co-Head of Liquid Performing Credit, delve into the current state of credit markets. They reveal surprising resilience in the U.S. economy despite recession fears, and explore rising car repossessions signaling stress among lower-income consumers. The duo highlights the convergence between public and private credit markets while discussing strategies for investing in low spread environments and the importance of creditor dynamics in financial negotiations.
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Jul 10, 2025 • 33min

Keeping Composed

Madelaine Jones, a Portfolio Manager for European High Yield Bonds, joins Justin Quaglia, a Credit Trader focused on high-yield bonds, and Christopher Gray, a Managing Director in Asset-Backed Finance at Oaktree. They discuss the recent volatility in credit markets, exploring the psychological impacts on investors. The group analyzes the dynamics of leveraged credit and the impact of regulatory changes on trading. Finally, they delve into opportunities in asset-backed finance amidst a shifting economic landscape, emphasizing the importance of strong investment relationships.
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43 snips
May 27, 2025 • 24min

Supply and Demand

Wayne Dahl and Suzana Perić dive into the current landscape of public and private credit markets. They discuss the tight supply due to reduced M&A activity and the increased demand for yield driving valuation discrepancies. The duo explores rising debt levels, corporate leverage dynamics, and the surprising resilience of economies post-COVID. They also analyze the evolving high yield bond space amid rising interest rates and the importance of technology in financing. Strategies for blending public and private investments offer insights for navigating market gridlock.
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5 snips
May 6, 2025 • 22min

30 Years of Oaktree

The co-founders reflect on the origins and growth of their firm over three decades. They share humorous stories about the initial naming and financing inspired by light-hearted dinner conversations. Pivotal moments in creating a distressed debt fund highlight personal philosophies on work-life balance. Insights into their $10 million start and the unexpected success without a strict profit plan reveal the importance of company culture. They reminisce about their teamwork, lasting relationships, and the journey ahead, comparing it to savoring a meal at a favorite restaurant.
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17 snips
Apr 8, 2025 • 29min

Off The Beaten Path

In this discussion, Matt Wilson, Co-Portfolio Manager in Special Situations, Christina Lee, Co-Portfolio Manager for U.S. Private Debt, and Jennifer Marques, Head of Strategy and Structuring in Asset-Backed Finance, dive into the impact of rising interest rates on private equity and the growing demand for junior capital. They explore innovative strategies in structured equity and the evolving dynamics of capital markets. The conversation highlights the importance of understanding asset-backed finance risks and the changing landscape for private lenders.
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31 snips
Feb 13, 2025 • 37min

Navigating LMEs with Armen Panossian, Ronnie Kaplan, and Ross Rosenfelt

Join Armen Panossian, Co-CEO and Head of Performing Credit at Oaktree, along with Ronnie Kaplan, a Portfolio Manager for U.S. Senior Loans, and Ross Rosenfelt, a Managing Director and Restructuring Lawyer. They discuss the rising prominence of Liability Management Exercises (LMEs) and their benefits over traditional bankruptcy. The trio delves into the complexities of debt restructuring, uptier transactions, and the delicate balance between lender strategies and borrower assistance, all while navigating a volatile credit landscape.
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20 snips
Jan 15, 2025 • 35min

Conversations: Recalibration with Danielle Poli, Julio Herrera, Mark Jacobs, and Todd Molz

Danielle Poli, an Assistant Portfolio Manager for Oaktree's Global Credit Strategy, discusses the lasting impact of high Treasury yields on credit investments. Julio Herrera, specializing in Emerging Markets Debt, offers insights on China's recent stimulus efforts and its effects on the economy. Mark Jacobs shares his outlook on the real estate market, focusing on the multifamily sector's resilience amid rising interest rates. Together, they explore investment opportunities in a volatile landscape while emphasizing the importance of diligent research and strategic management.
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6 snips
Dec 12, 2024 • 16min

The Roundup: Top Takeaways from Oaktree’s Quarterly Letters – December 2024 Edition

Explore the U.S. economy's resilience amid potential inflation, with high-income assets poised for gains. Discover how China's stimulus measures respond to faltering consumer confidence and deflation. Dive into the surge of the convertible bond market, where companies leverage favorable conditions. Lastly, compare international and domestic equity markets, revealing compelling valuation disparities. These insights illuminate the complex landscape investors navigate today.

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