Already a subscriber?The market is turning in favour of Howard Marks, the co-founder and co-chairman of investment giant Oaktree Capital.and Marks cut his teeth trying to find troubled companies worthy of rescue.
“We’re already doing a big business lending money to companies who are in a jam,” he says. “They’re not bankrupt. They’re not defaulting. But if they can’t get some money in the next six months – and these particular companies probably can’t get it from the market – they will have a problem.“We’ll fill their need, but we’ll charge them for it. And we can do much more of that in this environment.”
First, Marks says the pandemic “shook up the snow globe” in terms of the way employees work, leading employers to lease less office space than in the past. Second, the arrival of artificial intelligence could mean less hiring, or at least less hiring of “people at desks”. “One of those two will be the best performing fund – I just have no idea which one is going to be. One of the things that’s really key in my belief system is when you don’t know something, you admit it to yourself and to others.”
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Fuente: FinancialReview - 🏆 2. / 90 Leer más »