Uploaded October 2024 | Updated September 2026, 2 weeks ago
In his latest memo, Howard Marks outlines the need to base asset allocation decisions around an established risk target. He describes the fundamental differences between ownership and debt, as well as the importance of finding the combination of the two that gets an investor’s portfolio to the desired position on the risk/return continuum. Finally, he expands on the increased utility of debt investments in today’s portfolios.
You can read the memo here (oaktreecapital.com/docs/default-source/default-document-library/ruminating-on-asset-allocation.pdf?sfvrsn=67775566_2) (oaktreecapital.com/docs/default-source/default-document-library/ruminating-on-asset-allocation.pdf?sfvrsn=67775566_2).
In his latest memo, Howard Marks outlines the need to base asset allocation decisions around an established risk target. He describes the fundamental differences between ownership and debt, as well as the importance of finding the combination of the two that gets an investor’s portfolio to the desired position on the risk/return continuum. Finally, he expands on the increased utility of debt investments in today’s portfolios.
You can read the memo here (oaktreecapital.com/docs/default-source/default-document-library/ruminating-on-asset-allocation.pdf?sfvrsn=67775566_2) (oaktreecapital.com/docs/default-source/default-document-library/ruminating-on-asset-allocation.pdf?sfvrsn=67775566_2).
