Howard Marks, cofounder and cochairman of Oaktree Capital Management, talks about investing in a low interest rate environment. Since the 2008 Financial Crisis, interest rates have been persistently low. This has made it difficult for investing to achieve return targets and has caused investors to make more risky investments. This original interview took place in 2019 at a CFA Society Chicago event. The full video can be found here: https://youtu.be/Q3OlVuGfhUQ
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49 Comments
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This conference was terrible. The toilet flooded just outside the conference room
and the water came in and started soaking the carpet. The stench was terrible
and we had to leave after the first 15 minutes.
Wow. Watching this today and …. Wow. Howard Marks is a genius, as I always assumed, but never knew for sure!
Was this speech held in a cafeteria? What's up with servants and knife-and-fork-on-a-plate sounds?
A NICE VIDEO, EVERYONE NEEDS MORE THAN THEIR BASIC INCOME TO BE FINANCIALLY SECURED. THE BEST THING TO DO WITH YOUR MONEY IS TO INVEST IT BECAUSE MONEY LEFT IN THE BANK ALWAYS END UP BEEN USED ONE WAY OR THE OTHER WITH NO RETURNS. I USED TO BE A VICTIM OF SUCH, NOT ANYMORE. I INVESTED AND MAKE STEADY PROFITS.
When interest rates go negative you know the wheels have come off.
I wonder how he felt that he had to talk while people were eating.
good advice
Kudos for turning from a voice actor into a world-class investor.
People sitting their are more interested in eating😂😜
Does that mean I have to sell my growth fund ETFs to buy value stocks who have been underperforming the market for the last 10 plus years? No, I will not sell. I am currently on a wealth building phase, I will keep buying as long I have capital to buy more. We'll see in 2031.
Captain obvious
How are you guys investing in a low interest rate environment?
What a stupid video. All builds up to the point where he is about to impart some wisdom and cuts off.
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Going long these extremely overpriced markets is NOT investing. To invest you have to be on the correct side of fair value and TZA offers the greatest potential for reward. Small caps are 8X overpriced whereas large and mid-caps 4X overpriced. This per historical valuations for an economy in the toilet.
The riskier assets, they don't appear to have higher returns, they do have higher returns on average and it can be proved. They can have much lower returns in many cases and that is why they are riskier.
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Fun fact, Howard Marks is actually just Hank Azaria.
Riskier assets appear to have higher returns, but they don't necessarily deliver, hell yeah. It's like a pretty girl appear to have a crush on you, but it rarely happen in reality 🙂
I'll bet he makes a killing from this covid crash… long BAM
There’s more political commercials than there are diners, damm it you tube.
Ten year expansion from expanding debt and credit, not expanding production and efficiency. Radically different expansion. Take away the punch bowl, the low interest rates, return rates to historical 6% to 7% rates and watch prices fall 50% to 80%. Fed is propping up prices. Young people suffer in wealth inequality. Prices never get cheap and a good deal for younger people. This bubble has gone on since 1971. It can't expand forever. Protect yourself. Have half secure and half risky, half real and half in paper. Good luck.
What's up w stupid silverware sound
I doubt if he is going to speak on the dinner circuit again.
Nice.
Now THIS is a 70000 ft view of things
If you are more than 10 years from needing your money, the answer to investing is simple… buy a SP500 index fund at consistent regular intervals… do so within a tax deferred account structure such as a 401k, IRA, ROTH IRA 9if you employer contributes so much the better) etc.. make sure you pay as little fees as possible on the investment. Once you reach 10 years of using the money then you need to make some changes and create a plan for income. That is a more complex strategy which needs more individualized advice. But before that 10 year period, everything is noise. You don't need an advisor, you don't need financial news, you don't need "asset allocation" and you don't need "money management". All you need is a simple SP500 index fund with low fees and the discipline to buy it in regular intervals (bi monthly contributions from your pay is best) and then do nothing. It is hard for humans to accept that the simple, DO LITTLE solution outperforms active participation.
It would be an honor to meet in person with the chef.
Any real investor want to go live and stream to pay the deficit of twenty five trillion 💵 debt as investor here the blue print selling 90000 shares for the asking prices of $800,000,000 per shares now ask urself when this deal close and get the equity what was deficit of twenty five trillion dollar. Nobodi is rich until my deal close….
🏅🥈🏅🥈🚀🚀🌔
If you bought Citibank at $1 during the financial crisis and sold at $50 a few years later then you would made 5,000%. How hard is that? Well, it’s incredibly hard because you would be tempted to sell at 200% profit, or 600% profit, or 1000% profit, ultimately selling prematurely would prevent an exceptional return. It takes luck sometimes and it pays to be patient.
Great video! Though, I'm a bit concerned that it was filmed in a fork and spoon factory! /s
Whenn was this recorded?
Americans cannot spend a evening without eating🤣
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He sounds like a contrarian but statistics show that most contrarian investments lose money. He is focusing on the few contrarian bets that have made a lot of money but in general they are not good investments. In that regard, he is misleading people.
Sounds like people ate eating and not listening. Shame
An underrated legend
“If risky assets could be counted on for higher returns, then by definition they wouldn’t be risky”
Someone needs to tell Tesla shareholders this statement.
Riskier assets have higher returns and they are riskier. That is why real estate syndications involving apartment buildings usually do not deliver what they promise
At 8:20 he explains clearly that if you can count on the higher returns the assets wouldn’t be riskier or even risky!
I was at a retirement seminar and the speaker spoke on how he quit his job after he made well over $450,000 PROFIT within 3months he invested $120,000. I just began investing and i will really appreciate any tips or helpful guide.
I'm sure this was an informative talk, but the sounds of people dining could have been edited out.
The title is misleading. He just explains some basic principles for dummies, not suggesting what you should do. He doesn't even try to give a solution. Once you all know all of that… you still don't know where to put your money.
Why I was buying in March after the fed had acted but everyone called me crazy
Awesome advice!
“A lot of money chasing too few deals” sound pretty relevant
I wish this whole talk was available.
Too much money chasing too few deals – that means we need more deals. Building more investment properties, for instance…?