Bull Market Rhymes

Howard Marks’s latest memo explores recurring investment themes
to contextualize the current market correction and the bull
market that preceded it. He discusses the role played by
financial innovations like SPACs and cryptocurrencies and why he
believes psychology, not fundamentals, primarily drives
investment cycles – and likely always will. 


The memo is read by LJ Ganser.


You can read the memo here
(https://www.oaktreecapital.com/docs/default-source/memos/bull-market-rhymes.pdf?sfvrsn=df8b4b66_9).