Howard Marks: “People are shakily optimistic”
The Oaktree chair on Fomo, private credit, and the challenge of remaining prudent
Related reading
Oaktree’s path puts private credit choices into relief
Market stress to test whether it is right not to pursue scale as aggressively and broadly as some peers
We must be mindful of the risks of private credit
The sector remains untested in a severe or prolonged economic downturn
There is method in the market’s madness
But it relies on a host of rosy assumptions going in investors’ favour
In a tough year, private credit bosses are pointing fingers
Firms like Apollo find it hard to shake narratives formed by legacy private equity and distressed debt operations
Private credit’s moment for a healthy reset
Recent ructions highlight the case for better scrutiny of the asset class
Why I couldn’t help torching my equity funds
My contrarianism always overwhelms common sense, experience and learning