Oaktree's Howard Marks Weighs In on Market Risks, PE and Credit

Howard Marks, co-founder and co-chair of Oaktree Capital Management, discusses what he sees as the risks facing the current investment environment and the outlook for the credit market on "Bloomberg Open Interest."
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More on Bloomberg Television and Markets

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[@michaelcarlson1481]

Howard Marks is the real deal. Not a sell side guy. Talks the truth and not his book. Always appreciate his insight.

[@wm6549]

What are some of his best calls? I just know him from writing memos.

[@Cos_Why_Not]

@@wm6549 It's not very public stuff as far as I'm aware, he invests in distressed debt. That's his world. He has recently said he only uses stock market overvaluation to gauge public sentiment on where in the cycle we are.

[@golfinguru11]

I’ve read many of his memos and followed his career. He speaks in broad platitudes far too often. I’m sure he’s great at what he does (junk bonds, mostly) but I’ve taken far more actionable advice from Munger/Buffett, for example.

[@jaymeah6236]

@@golfinguru11 I totally agree here. I'm currently reading his book 'Mastering the Cycle" which is interesting, but not actionable to the extent it's very broad in scope. I guess it could inform my general view of markets but nothing concrete in terms of strategy or how to allocate funds imo.

[@darnellcapriccioso]

As an investment enthusiast, I often wonder how top level investors are able to become millionaires off investing. I do have a significant amount of capital that is required to start up but I have no idea what strategies and direction I need to approach to help me make over $400k like some people are this season.

[@maiadazz]

I think it's not always about fear, Sometimes realistic factors discourage people from reaching their goals in life. For instance, I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value

[@Aaronduckstein49]

The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.

[@richardhudson1243]

I just started a few months back, I'm going for long term, I'm still trying to wrap my head around it, who’s this advisor you work with?

[@Aaronduckstein49]

Annette Marie Holt is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.

[@oliviaHill-w4e]

Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.

[@BrewerVera]

Why I prefer NVIDIA is that they are better placed to maintain long term growth potential, and provide a platform for other AI companies. I know someone who has made more than 200% from NVIDIA. I'll also take these other recommendations you made.

[@AndersonFair-cy2bb]

I think it's not always about fear, Sometimes realistic factors discourage people from reaching their goals in life. For instance, I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value

[@Raymondcraw1967RaymondCrawley]

The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.

[@BrewerVera]

I’ve been down a ton, I’m only holding on so I can recoup, I really need help, who is this expert that guides you?

[@Raymondcraw1967RaymondCrawley]

Rachel Sarah Parrish is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.

[@BrewerVera]

Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.

[@Riggsnic_co]

I learned that the stock market was a rich man's game (yes, grandparents lost it all back then and preached that forever) but I've been around long enough to really taste how great it can be. To be profitable, with inflation at 6.1% These are surely desperate times, but in my opinion, there is no market condition that a good financial advisor cannot navigate, especially those that have existed since the crisis of 2008 and before.

[@Jamessmith-12]

I know having a financial advisor improves your overall portfolio performance, but are they really as effective as you claim?

[@JacquelinePerrira]

Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2019, and I return at least $121k ROI, and this does not include capital gain.

[@kevinmarten]

Would you mind telling me how to contact this specific coach using their service? You seem to have the solution, as opposed to the rest of us.

[@JacquelinePerrira]

'Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@kevinmarten]

Thank you! I entered her full name into my browser, and her website came out on top. I filled her form and i hope she gets back to me soon.

[@TimothyWilliams31]

The thing to me is, if you invest and have other income outside of dividends then you will be able to live off dividends without selling. Which means you can pass that on to your kids which will give them a leg up in life.

[@MeghanMurphy-ve1hw]

I agree! That's why it is advisable that you have to invest while you still have a regular job or earning a regular income, and do it constantly. You still need to have something that will keep you going even if you're investing. Good financial planning and money allocation is the key.

[@khanJK-o8u]

I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured some money in value stocks and digital asset, i accrued over $80K in dividends last year

[@SuperDevon1994]

I’ve been down a ton, I’m only holding on so I can recoup, I really need help, who is this expert that guides you?

[@khanJK-o8u]

Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've been stuck with *KAREN* *MARIE* *GENDRON* for about five years now, and her performance has been consistently impressive.

[@SuperDevon1994]

Thanks for this. I just googled her name and found her webpage. I'm really impressed with her credentials and I reached out to her since I need all the assistance I can get.

[@landi2244]

This man knows what he is talking about. Please read his book.

[@dk-we6fr]

And his memo's.

[@illegalsmirf]

No.

[@landi2244]

@@illegalsmirf yes.

[@jay_stack1270]

@@landi2244 😂🤣

[@Marley78lm]

Love this guy!

[@dennismorris7573]

He´s brilliant.

[@palebiss1646]

I can't believe I've owned my Tesla for more than a year, but even if it's not flawless, I still love my car.

[@OscarOwenn]

I think that's more significant than simply knowing the name of a stock to purchase because it will strengthen your belief and faith in the business. As a result, you'll be prepared to decide whether to buy, sell, or keep onto the stock when its price varies. As an alternative, Big Money might be getting thrilled because, like with Tesla, they know something about the company that the general public doesn't, and they're buying the shit out of the stock. Assist *Leah* *Foster* *Alderman* a qualified financial advisor. She will also present you a stock analysis that will outline the variables to take into account while making low- and high-priced purchases.

[@palebiss1646]

After spending some time with her and saying many thanks, I'll look up her qualifications.

[@LouisMorganxb3]

My objective was to become financially independent. Although I was very fortunate to receive a soccer scholarship, I lived a miserable most of my life because my parents still gave me food and other essentials.

[@collins.l454]

You'll have to exercise patience momentarily. After that, I'll probably watch what Tesla does.

[@whitemoon5752]

Made in China

[@noremacmada]

1:47 - I recall a very similar question recently being asked of someone on this channel, and, if I recall correctly, the metric was the ratio of interest payments to defense spending. You may want to review the transcripts to confirm. Also, I struggled to discern whether the response was snark 6:07 - What I interpret as "Mr. Marks on the importance of studying the documentation"

[@vadimdyachkov1561]

I've been using your strategy for a few weeks now and it's been working great. Thank you so much!

[@ViktoriyaVolkova-tg6jh]

always find your lessons very practical and applicable. Thank you for making trading so accessible!

[@tobiasjensen7549]

Thank you so much You are my true hero and the savior of my family. I love you for your modesty and accurate explanation. You are the best KZbinr. Greetings, may God bless you.

[@Across048]

Thank you Howard Marks. ❤

[@GrigoriyAleksandrov]

another amazing strategy by you thank you for the videos

[@lutherjones503]

I am now afraid to buy FIAT thanks this was helpful. Maybe ask Jay later today for his thoughts. Once a month I would like to see FIAT/CONY when it is available

[@sabahtaha1746]

howard great investor and humble gentleman

[@Pizza-gb1ch]

70% off. Is that enough? Good question.

[@noremacmada]

@@Pizza-gb1ch am I detecting sarcasm?

[@golfinguru11]

Chiming in as a CRE guy - in many cases, not really. A lot of these massive buildings (especially if they’re not trophy Class A) have insane operating costs that just don’t make sense without low interest rates and/or 90%+ tenancy rates - at any price over land value minus demolition cost.

[@chkee17]

It is widely acknowledged that the United States' debt situation poses a challenge, however, the exact timing of any potential difficulties remains uncertain. Despite this, it is difficult to completely disregard the significance of the US market.

[@sonny8988]

Howard Markets

[@keimo2007]

Howard Skidmarks

[@edwardkierklo9757]

How much downstream distortion was achieved by 13 years of 0 rates and then the fastest relative rate rise in history?

[@HelloWorld-hb7yt]

he is 78 years old???

[@andreww5574]

looks great!

[@twilightbin]

Retail Real Estate in general is doing fine. ADC, FRT, O - all have ffo rising. I'm not sure why he mentions retail.

[@ThinkBlueAZ]

07:25 Gold

[@sripalsama]

What does she mean by we are days away from bank runs?

[@HairyPinkTroll]

1:04 I have an idea 💡 how much went to bailouts at what inflation and compounding interest? Then the industries/corps/banks that are now super solvent can start paying the public back - or is that just taxes like the Reagan era?

[@milosnestorovic1594]

Good idea but Now and Today, it's simple Impossible, complete Impossible....

[@frankkuo7773]

please, what's the PE?

[@Lochamp]

price to earnings ratio

[@jameswalker366]

In this context, private equity.

[@whitemoon5752]

Private equity

[@fredatlas4396]

Just follow John Bogle's advice and stick to index funds and a passive strategy buy and hold. Ignore the markets and the news, they are just distractions to the business of investing. This is part of Mr Bogle's advice to investors, dont gamble with your money

[@taranjitsingh2714]

Buy gold stocks…look for Q2 blockbuster earnings with high gold prices…gold stocks will skyrocket and not to mention interest rates coming down further fueling prices!!

[@JusteMoi-l2m]

8 weeka later realestate sector has already rallied, a lot.

[@sarahclark-langager3346]

Munger says your full of it!

[@jorgipogi]

Debt has to be controlled.

[@jackbailey7037]

"New York, the capital of the World!!" haha

[@williamc4221]

He meant the business capital of the world.

[@ciaronsmith4995]

@@williamc4221 Yet Oaktree is headquartered in Downtown Los Angeles. Cheers.

[@whitemoon5752]

Waiting for S&P to crash, hold my beer

[@panmichael5271]

A point comes where you have to stick your neck out and say, "When interest on the Federal debt exceeds a $1trillion, it's time for a radical rethink. Stop obfuscating and address the issue head on!"

[@everglades_n_co.]

for those who are delusional enough to think the market will be boosted even more by lowering the interest rate. think twice and take a closer listen to him.

[@rufuspipemos]

"No one can tell you what to do about it." Wrong... Bitcoin. It's the only opt-out remaining.

[@ArchieJohnson5h]

This administration's degree of corruption and incompetence is getting ridiculous. I feel sorry for people who are disabled and do not get the support to which they are legally entitled. Leah Foster Alderman, you have my sincere gratitude. Imagine investing $1.5K and earning $6k in just four days.

[@AdamWright8fool]

That woman completely transformed my life for the better. I've met many people, but none seem as honest as Leah. I'm surprised you know her too

[@FreemanJameZ]

I've seen a lot of people talking about Leah, she must be really great for everyone to be saying such nice things about her.

[@CoreyLloydo]

Please, how can I seek her help as I'm new to this?

[@AdamWright8fool]

"Leah Foster Alderman" You'll definitely find out more if you search her up online

[@ArchieJohnson5h]

That's her name, search her up using the name above!

[@BugMateo]

Howie is great because he never really says anything... a bunch of general half-truths. Thanks for nothing!

[@feouellette]

He is smart enough to know that forecasting what will happen is impossible.

[@paranoidhumanoid]

Howard Marks is having Biden like mental seizures.

[@personofnote1571]

Not even close