Howard Marks - Co-founder of Oaktree | Podcast | In Good Company | Norges Bank Investment Management

Howard Marks: Oaktree Capital, Investment philosophy, risk and randomness
How can you judge the quality of a decision? Howard Marks is the co-founder of Oaktree Capital and one of the world's most respected investors. In this episode he tells us about how he got started in finance, his investment philosophy, his thoughts on risk management and much more. Tune in for an insightful conversation with one of the greatest minds in the world of finance.
In Good Company is hosted by Nicolai Tangen, CEO of Norges Bank Investment Management. New episode out every Wednesday morning European time.
The podcast In Good Company is part of Norges Bank Investment Management , a podcast about our investments. We are transparent about how the fund is invested. In this podcast, you to get a deeper insight into the companies the fund is invested in.
Our CEO, Nicolai Tangen, has in-depth interviews with the leaders of some of the largest companies in the world. You will get insight into their leadership principles, the company’s strategy and how they are dealing with a large investor like us. You will also learn more about our role as an owner of the companies.
You can read more about the podcast on www.nbim.no/en/publications/p...

[@jeffyeung6657]

“When I see memos from Howard Marks in my mail, they're the first thing I open and read. I always learn something.”

[@mateocarrascoalvarado4347]

" Warren Buffet "

[@stanleyzac1648]

True, I squirelled away cash for a rainy day, but with inflation pouring down, it feels more like a leaky bucket. Saving for retirement seems impossible if my money keeps losing value faster than I can earn it.

[@tomaszcz_k]

Financial literacy is so important. We should have it as a mandatory course in school. Luckily we have all these incredible content creators on KZbin teaching what we missed in school.

[@stanleyzac1648]

That makes sense. Unlike us, you seem to have the market figured out. Who’s your fiduciary?

[@tomaszcz_k]

Dustin Dwain King is my asset manager. Just research his name to find the details and set up an appointment...

[@JonKragh]

It's unbelievable that this is free. What a blessing.

[@technicalmuffin]

I concompletely concur. This was so incredible in many ways

[@jacobdaboss8413]

Don't tell them that! 🤨

[@gangfang8835]

Rarely leave comments but this interviewer really knows what to ask, how to ask and a lot of insights are solicited. Thanks!

[@jcstravelfilms]

Even though Mr. Marks primarily deals with the credit markets, value equity investors can still learn a lot from him. I've always seen him as a modern-day philosopher. Also, you asked many questions that have not been asked of him before. Great interview, like all of your other ones.

[@dimitarvelev9005]

Phenomenal interview with lots of wisdom shared. Thank you Nikolai and Howard for sharing this with us

[@royjones59344]

Greatly appreciate all the effort you put into running Norges and doing these interviews.

[@fredericorosa7979]

I feel I always learn something when I listen/read something from Howard Marks. Inspiring!

[@paultweedley2026]

Howard is incredible intelligent and wise, it's that that's made him so rich

[@ChloeCarter-kd7gz]

Investment banking can be quite lucrative if you know what you're doing, but it also comes with its fair share of risks.

[@MelissaHobbs-qm8wi]

That's true. I've dabbled in investment banking myself, but I prefer to leave the heavy lifting to the professionals.

[@WhitneyRoss-dj4rf]

Speaking of professionals, have you guys heard of RPC Wealth? They've been managing my portfolio for the past couple of years, and I've seen significant growth in my investments.

[@EricaWaters-lr6zw]

RPC Wealth, you say? I haven't heard of them before. What sets them apart from other advisory firms?

[@OliverLiam-px3vx]

Well, for starters, RPC Wealth takes a personalized approach to wealth management. They tailor their strategies to fit each client's unique financial goals and risk tolerance.

[@ChloeCarter-kd7gz]

Plus, they have a team of seasoned professionals who are experts in their field. They use a combination of traditional investment strategies and cutting-edge technology to maximize returns for their clients.

[@PedroPatela]

Excellent interview ⭐⭐⭐⭐⭐

[@germinc]

You know you have to watch it once you see the name!

[@technicalmuffin]

Wow I just discovered Howard Marks in detail today and I am blown away.

[@markburnham7512]

Love Marks. Host relentlessly seeks free advice.

[@QuantCompounder]

Timeless wisdom from Mr. Marks

[@myinvestmentjourneyaimmartina]

Thank you for this channel and the interviews, from Thailand!

[@Across048]

I am so grateful that you have come out and shared your experiences and written a book. I have read all of your books and I have really benefited from them. Thank you Howard Marks.

[@gabrielenicolini5988]

What a great interview! Thank you

[@dennismorris7573]

Two very, very brilliant gentlemen.

[@metamoonnn]

Reading Richer, Wiser, Happier. He was featured in it!

[@pps1223]

Markets were acting in a carefree non-risk-conscious kind of manner. Bingo!

[@DeepSukhwani]

Things that would be difficult individually become easier when you have somebody you respect who supports you - Howard Marks

[@abazarelmakki8880]

The world needs decision makers rather than creators

[@TenishaOlinghouse]

Good content and enough details to make you money.😍

[@Alpha_Q_up.]

Sawasdeekrap from Thailand.🙏

[@robweatherston2156]

Thank you Nicolai

[@fengxie918]

very good content, thank you

[@fengxie918]

Take aways: - Investment Principles: Risk Control, Consistency, Market Efficiency, Specialization, No Macro Prediction, No Market Timing - Annie Duke, “Thinking in Bets” - Risk Control, is not risk avoidance, risk avoidance equals to return avoidance, but risk is not also equal to return guarantee. The key of risk control, is risk awareness, able to analyze and take an unbalanced return-risk bet on it - Most of time market is not predictable, thus no market timing, but on the other side, when market is at extreme, it’s fairly predictable, but it’s very very rare. 5 times only in the 50 previous years. After the financial crisis, they buy large assets in the consecutive 13 weeks after the bankruptcy of Lehman Brothers. Most of the time, shall follow a bottom up fashion

[@LucidTrading]

Love this!

[@bbelev]

Howard is brilliant

[@johnbailey3351]

"I don't know enough about AI to know if this is excessive or justified." Neither do I, but I know enough about markets to know that given the current velocity, the chances are that it will become overvalued!

[@PatAlpaugh4]

Love it

[@Weisswolf777]

Stanley Druckenmiller please. And ask about his Nvidia stocks!

[@lucasdetommasogomescarvalh6759]

Guys, technical issues are common and understandable, but whoever was operating these cameras could go to functional camera and operate it. Make it wide for both people when question time and zooming in slowly for responses. Great interview though

[@technicalmuffin]

true. I was thinking the same - why not just have a pan with both lol

[@motwoc]

First!

[@rogerlin6197]

second

[@glennnielsen8054]

Having a sigma personality is a positiv.

[@nvda2damoon]

warren, Howard, Brent Johnson - about the only 3 people that makes some sense on YT... for reference I outperform 99% of pro managers.

[@kp2718]

41:18 Well, you've been fooled by Nasib, dentistry has a lot uncertainty and risks too, coming from a 0,01%dentist

[@aliasoma]

Uhh, people are not as unpredictable as he thinks. If he really needs a lesson in psychology, he could start in his intellectual neck of the woods: behavioral finance.

[@workwpassion]

This guys voted YES for Elon 2018 package, and voted NO now.

[@angeladeem2988]

It's a common misconception that when a stock you buy skyrockets, the smart thing to do is sell it (or at least sell some of it) to lock in your profits. But the context matters. If the stock has increased sharply because the business is performing exceptionally well, it could still be a bargain. I'm still looking for companies to make additions to my $350K portfolio, to boost performance. Here for ideas...

[@JG-re2bb]

The interviewer was incredibly annoying. Still great to listen to Marks though

[@armitageshanks2499]

Howard isn't CEO

[@ElonMuskDailyLife]

Elon was generous enough to give this man an interview early this year and in return, this man voted AGAINST Elon's pay package. Elon even accepted his dinner invitation. This man have no shame. GYF Nicolai from Norway

[@michaelseldon3815]

oh no Nikolai has been abuducted by aliens

[@vorandrew]

guy is not sure why cycle exists... hmm

[@pornstarpat]

.....he has a book named mastering market cycles! Bahahha

[@RadicalNuance]

This guy’s fund voted against paying out Elon’s compensation package. Very sneaky, be aware.

[@yazhongye8386]

Thanks for you information,but I think your opinion is biased.

[@pornstarpat]

I would have voted his package down too. Elon is diluting the share holders with his package.