The Rewind: It Is What It Is

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.