Attached is a recent interview with Howard Marks on Bloomberg. If you are an investor and don't know Marks, this is someone you should pay attention to.
Marks is renowned for his market success. He is a co-founder and co-chairman of Oaktree Capital Management which is the largest investor in distressed securities worldwide. He has written two highly influential books on investing and regularly publishes a news letter that is esteemed by many of his peers.
In the video Marks discusses the current market environment and the Fed's accommodations since 2009.
Some of his observations are the following:
- Anyone who started investing after 2009, has only seen good times.
- Since 2009, the Fed has gone to great ends to assure monetary policy was highly accommodative. This was much more support than the Fed has provided historically.
- The time period 2009 to now has been a very good period for investors and businesses as everything was easy. The markets are usually much harsher.
Check out the video. Marks never disappoints.
Be smart, be well-read, be aware and be successful.
“I like to say, “Experience is what you got when you didn’t get what you wanted.”
― Howard Marks
