Episode 9
The Rewind: It Is What It Is
The Memo by Howard Marks · Oaktree Capital Management
June 24, 202143m 31s
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Show Notes
Howard reflects on this memo originally published on March 27, 2006. In this wide-ranging discussion, he weaves together the Japanese concept of mujo, probability theory and the Super Bowl to suggest investors should spend less time looking for silver bullets and more time cultivating humility.
You can read the memo here (https://www.oaktreecapital.com/docs/default-source/memos/2006-03-27-it-is-what-it-is.pdf?sfvrsn=87bc0f65_2).
The memo is read by LJ Ganser.