Joel Greenblatt: It’s Not Only What’s In Front Of You Today But What Might Be In Front Of You Six Months From Now

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In his recent interview with Howard Marks on Real Vision, Joel Greenblatt discussed the impact of interest rates on asset prices, whether this time is different, how accounting has not kept up-to-date with today’s business models, and the importance of maintaining a margin of safety. Here’s an excerpt from the … Read More

Howard Marks: Lower Lows Ahead In The Stockmarket

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In a recent interview with CNBC Howard Marks provided his thoughts on the short term future for the stock market saying: “We’re only down 15% from the all-time high of Feb. 19,” Marks, co-founder of Oaktree Capital Management, said Monday on CNBC’s “Halftime Report.” But “it seems to me the … Read More

Howard Marks Memo: Knowledge Of The Future

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In Howard Marks’ latest memo he discusses the futility of trying to predict what’s likely to happen in the future in the world of investing saying: As I showed by using it again in last week’s memo, I was impressed by the observation of Marc Lipsitch, Harvard epidemiologist, that there … Read More

Howard Marks: Waiting For The Market Bottom Is Folly

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Howard Marks has written yet another memo recently titled Calibrating in which he discusses his views on why investors should consider a change in their portfolio’s positioning over time, in response to what’s going on in the current environment saying: As the environment becomes more precarious, (with prices high, risk … Read More

Howard Marks: Latest Activist Positions

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As a new weekly feature here at The Acquirer’s Multiple, we’re going to take a look at the latest activist positions from some of our favorite superinvestors based on their latest 13D/13G filings. Activist investors like Warren Buffett, Carl Icahn, David Einhorn, Bill Ackman, Paul Singer, Howard Marks. John Paulson, … Read More

Howard Marks: Latest Memo: You Bet!

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We’ve just been reading Howard Marks’ latest memo titled – You Bet! in which he discusses an observation he made when he was seventeen after reading the book Decisions Under Uncertainty: Drilling Decisions by Oil and Gas Operators by C. Jackson Grayson, Jr. His observation was that you can’t tell … Read More