Howard Marks is the legendary investor and founder of Oaktree Capital in California. He is a former convertible bond guy, and I know a few people at Oaktree. I have always admired his work. He gave a speech called "The Human Side of Investing: Theory and Practice" at the New York Society of Securities Analysts (NYSSA) last week. I wish I had been able to see the actual speech, but did not. However, there is an excellent summation of it CLICK HERE.
I particularly liked the parts about value/price relationship, contrarian investing and the "us versus them" schools of thought. Those points encapsulate how I try and live my professional life.
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