By
Borsgade
Co-Chairman and Co-Founder of Oaktree Capital Management, Howard Marks, recently spoke with David Rubenstein of Bloomberg about a number of interesting topics.
Here he says that he expects interest rates to remain high well into the future, about his views on the true value of credit instruments and the psychological aspects of investing.
On the latter, he says, among other things:
The other thing is people believe that there’s kind of a direct and mechanical linkage. If a company has a good event the securities do well, if they have a bad event, like earnings, securities do poorly. But that’s not the case because there’s a intermediate step, which is people’s reaction.
So it’s not just whether the event was positive it’s how people reacted to the event that determines the impact on the security prices, and that’s two different things. So you can’t forget the the psychological and human factor.
Share the news
The above has been prepared by Børsgade ApS for information purposes and cannot be regarded as a solicitation or recommendation to buy or sell any security. Nor can the information etc. be regarded as recommendations or advice of a legal, accounting or tax nature. Børsgade cannot be held liable for losses caused by customers’/users’ actions – or lack thereof – based on the information in the above. We have made every effort to ensure that the information in the above is complete and accurate, but cannot guarantee this and accept no liability for errors or omissions.
Readers are advised that investing may involve a risk of loss that cannot be determined in advance, and that past performance and price development cannot be used as a reliable indicator of future performance and price development. For further information please contact info@borsgade.dk
In this interview with Jason Zweig, the editor of the 75th anniversary edition of Benjamin Graham’s classic book ‘The Intelligent Investor’, he discusses Graham’s timeless principles for successful investing.
In a recent interview, François Rochon discusses his approach to identifying exceptional businesses by combining quantitative and qualitative analysis. He starts by examining historical performance metrics such as return on capital, profit margins, debt levels, and the quality of earnings to identify strong companies.
In a recent interview, Cliff Asness delves into the complexities and prospects of rational investing, especially during times of significant market inefficiency
In his latest article, Michael Mauboussin presents a collection of their most interesting and controversial charts and insights from their reseach.
