“I have no idea whether we’ll see inflation, stagflation, stagnation, disinflation or deflation, and Oaktree won’t bet on any of them. It’s one of the tenets of our investment philosophy that our investment decisions aren’t driven by macro forecasts. Not that it wouldn’t be nice to know what the future holds in these regards; rather it’s simply that most investors – and certainly we – aren’t capable of superior judgments about the macro. So why bet?” —Howard Marks
Links - 10/14/2020
Links - 10/14/2020
Links - 10/14/2020
“I have no idea whether we’ll see inflation, stagflation, stagnation, disinflation or deflation, and Oaktree won’t bet on any of them. It’s one of the tenets of our investment philosophy that our investment decisions aren’t driven by macro forecasts. Not that it wouldn’t be nice to know what the future holds in these regards; rather it’s simply that most investors – and certainly we – aren’t capable of superior judgments about the macro. So why bet?” —Howard Marks