Episode 54
The Indispensability of Risk
The Memo by Howard Marks · Oaktree Capital Management
April 17, 202412m 20s
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Show Notes
In his latest memo, Howard Marks considers what chess can teach investors about the paradox of risk-taking. Drawing on insights from a recent Wall Street Journal article (https://www.wsj.com/sports/chess-teaches-the-power-of-sacrifice-221db7b7) by chess grandmaster Maurice Ashley, Howard explains why not taking enough risk may be one of the riskiest strategies of all.
You can read the memo here (https://www.oaktreecapital.com/insights/memo/the-indispensability-of-risk).