Podcast · 43 episodes
The Memo by Howard Marks
by Oaktree Capital Management · English
On October 12, 1990, Oaktree Co-Chairman Howard Marks published his first memo to clients. In the decades since, he has periodically released memos reflecting his viewpoint on the investment landscape, as well as more general business insights. On this podcast we'll hear the latest memos by Howard, released in tandem with or shortly after their publication.
Latest episodes
Shall We Repeal the Laws of Economics – Part IIIHoward Marks (Oaktree) argues against “repealing” economic laws via government/central-bank attempts to override market forces, focusing on recent U.S.22 Sep 2026 · 27 min
What's Going on in Private Credit?Howard Marks explains how “credit” evolved into today’s private credit/direct lending boom, why it’s now under scrutiny, and how AI-driven disruption in software debt is affecting sentiment and…9 Apr 2026 · 39 min
Reflections on Oaktree Conference 2026 with Howard MarksReflections on Oaktree Conference 2026 (early March, Southern California) focused on how credit markets evolved, how Oaktree builds multi-asset credit portfolios, how mispricings arise from mistakes,…24 Mar 2026 · 33 min
All episodes
Shall We Repeal the Laws of Economics – Part IIIHoward Marks (Oaktree) argues against “repealing” economic laws via government/central-bank attempts to override market forces, focusing on recent U.S.22 Sep 2026 · 27 min · 11 chapters
What's Going on in Private Credit?Howard Marks explains how “credit” evolved into today’s private credit/direct lending boom, why it’s now under scrutiny, and how AI-driven disruption in software debt is affecting sentiment and…9 Apr 2026 · 39 min · 14 chapters
Reflections on Oaktree Conference 2026 with Howard MarksReflections on Oaktree Conference 2026 (early March, Southern California) focused on how credit markets evolved, how Oaktree builds multi-asset credit portfolios, how mispricings arise from mistakes,…24 Mar 2026 · 33 min · 12 chapters
AI Hurtles AheadA podcast that features memos by Howard Marks, Oaktree Co-Chairman, reflecting on investment landscapes and business insights.26 Feb 2026 · 46 min · 23 chapters
Is It a Bubble?In this episode, Howard Marks discusses the complex question of whether the current hype surrounding artificial intelligence (AI) constitutes a bubble.9 Dec 2025 · 1 h 7 min
Cockroaches in the Coal MineHoward Marks shares insights from his memos on the investment landscape and business insights, reflecting on his experiences and observations over decades.6 Nov 2025 · 24 min
A Look Under the HoodHoward Marks, Co-Chairman of Oaktree28 Oct 2025 · 29 min
35 Years of MemosA series of memos by Howard Marks reflecting on investment landscapes and business insights since 1990.14 Oct 2025 · 31 min
The Calculus of ValueHoward Marks, Co-Chairman of Oaktree Capital Management14 Aug 2025 · 42 min
More on Repealing the Laws of EconomicsIn this episode, Howard Marks discusses the ramifications of governmental intervention in economic systems, asserting that such interventions often exacerbate existing problems rather than solve them.18 Jun 2025 · 40 min
30 Years of OaktreeIn this episode, co-founders Howard Marks, Bruce Karsh, and Sheldon Stone celebrate Oaktree's 30th anniversary through a fireside chat moderated by Madeleine Horton.6 May 2025 · 22 min
Nobody Knows (Yet Again)Howard Marks, Co-Chairman of Oaktree Capital9 Apr 2025 · 35 min
Gimme CreditIn this episode, Howard Marks addresses the current concerns regarding credit spreads and presents his perspective on the investment landscape, particularly focusing on high-yield bonds and the…6 Mar 2025 · 29 min
Behind The Memo: On Bubble WatchHoward Marks discusses his recent memo titled "On Bubble Watch," revisiting investor psychology and the dangers of market bubbles tied to excitement and fear of missing out (FOMO).27 Feb 2025 · 25 min
On Bubble WatchRevisiting the concept of market bubbles, reflecting on past experiences, and assessing current market conditions.7 Jan 2025 · 35 min
Ruminating on Asset AllocationIn this episode, Howard Marks discusses his latest memo focused on asset allocation, emphasizing the importance of establishing a risk target.22 Oct 2024 · 27 min
Shall We Repeal The Laws of Economics?In this episode, Howard Marks reflects on the fundamental principles of economics, emphasizing the importance of respecting the laws of free markets and the consequences of political interference.19 Sep 2024 · 55 min
Behind The Memo: The Impact of Debt with Howard Marks and Morgan HouselIn this episode of Behind The Memo, Howard Marks is joined by Morgan Housel to discuss insights from Howard's recent memo titled "The Impact of Debt," which was inspired by Morgan's article "How I…27 Aug 2024 · 39 min
Mr. Market MiscalculatesIn this episode of *The Memo*, Howard Marks discusses the recent market volatility through the lens of Benjamin Graham's metaphor, Mr. Market.22 Aug 2024 · 26 min
Behind the Memo: The Indispensability of Risk with Howard Marks, Bruce Karsh, and Maurice AshleyIn this episode, Howard Marks is joined by Oaktree cofounder Bruce Karsh and chess Grandmaster Maurice Ashley to discuss Marks' recent memo "The Indispensability of Risk" and its inspirations,…23 Jul 2024 · 32 min
The Folly of CertaintyHoward Marks, co-chairman of Oaktree, shares his memos that reflect insights on the investment landscape and broader business themes.17 Jul 2024 · 19 min
The Insight: Conversations - Oaktree Conference 2024 EditionIn this special edition of "The Insight: Conversations," we explore key excerpts from Oaktree's recent client conference, featuring insights from co-chairman Howard Marks and members of Oaktree’s…2 Jul 2024 · 39 min
Bonus Episode: Howard Marks on “In Good Company”In this bonus episode of "The Memo" by Howard Marks, Oaktree Co-Chairman Howard Marks engages in a discussion with Nicolai Tangen on the "In Good Company" podcast.18 Jun 2024 · 41 min
The Impact of DebtIn this episode, Howard Marks explores the intricate relationship between leverage and survivability, drawing inspiration from Morgan Housel's insights on debt.8 May 2024 · 16 min