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The Memo by Howard Marks Podcast
Cockroaches in the Coal Mine

Cockroaches in the Coal Mine

The Memo by Howard Marks vor 9 Monaten

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24:29

In his latest memo, Howard Marks examines the recent string of
well-publicized credit problems. He considers how they serve as a
reminder that the yield premium offered by sub-investment grade
credit isn’t a freebie, but rather compensation for bearing
credit risk. While good times lead to complacency and elevated
risk tolerance, bad times expose the results of that
carelessness. Howard emphasizes that it’s essential to always
balance the desire to put money to work with the need for
prudence.

You can read the memo here
(https://oaktreecapital.com/insights/memo/cockroaches-in-the-coal-mine).