Howard Marks

“We've had those value investors on, we've had Howard Marks, he's dealing in debt and bonds.”

“Oaktree raised an $11 billion distressed debt fund before the Global Financial Crisis — not during it — because crisis conditions make fundraising impossible.”

“He said, Dad, so much has happened. You have to update the memo. And so I rewrote the memo entirely.”

“Marks is strikingly candid that he made unconscious, reactive career decisions for the first 49 years of his life and only began living intentionally when he co-founded Oaktree at around age 50.”

“There's never been anything with the quality of autonomy. The idea that you can give it a job and not tell it how to do it and it'll figure it out is really unique.”

“Most people in the investment business, if they have a fund that does great, the next fund is bigger. Because they can sell on the back of those results. But we make it smaller because we think those results mean that things have appreciated and are not so attractive.”