IE
Investment Uncut: Howard Marks - what do you buy when (almost) nothing looks attractive?
Investment Investment strategyYou can listen to our podcasts online via the player below or search for 'Investment Uncut' and review, rate and subscribe on Apple Podcasts, Spotify, Pocket Casts or SoundCloud.
Market valuations on major asset classes are at historically high levels. But does that mean we’ve reached the point where nothing is attractive? And if we’re at that point, how should we think about constructing an investment portfolio?
Howard Marks is ideally placed to help our listeners grapple with these questions – he’s been investing since 1969 and at the helm of Oaktree Capital since it began in 1995. Howard shares the principles that have guided his investment career, why investor psychology is not to be ignored, the link between value and price, and how he thinks about the current environment.
What's one thing you would like listeners to take away?
People say ‘buy’ or 'sell', 'risk on' or 'risk off', as if it’s black or white—but that’s not how things are. Most of the time we’re in the middle, which I call the 'zone of reasonableness', and people shouldn’t totally buy or sell. They should have a balanced approach to their portfolio, incorporating the pursuit of return accompanied by risk control to prepare for the future.
Any recommendations?
- Howard’s memos on Oaktree’s insights page.
Each LCP Investment Uncut podcast is for information and marketing purposes only and does not constitute any form of investment or financial advice or a financial promotion (under the Financial Services and Markets Act 2000). All views expressed by the podcast hosts and guests are purely their own opinions and do not represent those of LCP, its clients or affiliates. LCP does not provide any warranty, guarantee, or representation as to the accuracy or sufficiency of the information featured in this Podcast. Past performance is not indicative of future returns. Our podcast listeners should always seek independent financial or legal advice before making any financial or investment decisions. Please refer to the Legal Notices section on the LCP website for further information.
Subscribe to LCP podcasts
Dive into expert insights with LCP’s podcast range: Energy, Investment, Insurance, and megatrends facing businesses today. Listen & subscribe across all major audio platforms.
