Howard Marks: Value Investing, Inflection Points In Cycles and Advice To A New Fund Manager (2019)

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A interview with billionaire debt investor and founder of Oaktree Capital Management, Howard Marks. In this interview, Howard discusses why value investors have struggled in recent times and what points of the cycle provide the best investment opportunities. Howard also talks about his early career and gives advice to those just starting out in asset management. ???? Books by Howard Marks and his favourite books are located at the bottom of the description❗

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Other great Value Investor videos:⬇

Joel Greenblatt: Value Investing for Small Investors:http://bit.ly/JGreenblattVid

Seth Klarman on Value Investing, Investment Strategies and Advice for Success:http://bit.ly/SKVid

Billionaire Prem Watsa: Value Investing Philosophy and Strategy: http://bit.ly/PWVid1

Video Segments:
0:00 Introduction
0:30 What lead you into fiance and what lead you to create Oaktree?
3:06 Deciding to start Oaktree?
4:08 Memos?
6:21 Why do cycles exist?
13:33 The limits of negativism?
18:50 Catalyst of inflection points in a cycle?
21:20 Does unorthodox central banks policy change the length of the cycle?
24:35 Does more data make it easier or harder to tell where we are in a cycle?
26:38 Concerned about liquidity of ETFs?
31:07 Why have traditional value managers have struggled for so long?
32:46 Getting lucky?
35:16 What’s next for Howard Marks?
36:44 Start of Q&A
36:50 Shift in Oaktree strategy?
38:28 How much will the algorithms wear away at psychological factors of the market?
41:18 Advice to a new fund manager?

Howard Marks Books ???????????? (affiliate link)
The Most Important Thing:http://bit.ly/MostImportantThingHM
Mastering The Market Cycle: http://bit.ly/MasteringTheMarketCycle

Howard Marks Favourite Books????
Winning the Loser’s Game:http://bit.ly/WinningTheLosersGame
A Short History of Financial Euphoria:http://bit.ly/FinancialEuphoria
Fooled by Randomness:http://bit.ly/FooledByRandomnessHM

Interview Date: 30th January, 2019
Event: Context Summits
Original Image Source:http://bit.ly/HMarksPic17

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