Oaktree Memos

Reading what other respected fund managers do is very important.
Howard Marks has made a name for himself as a distressed debt investor and founder of alternative asset house Oaktree.
His memos found here are always worth reading for their commentary on market cycles and economics.
Most importantly they are a great source of common sense in financial markets.
The latest memo (from July) is a perfect example of this – how to understand the Fed’s actions in the current environment.