Latest memo from Howard Marks: Which Way Now?

Howard Stanley Marks (born April 23, 1946) is an American investor and writer. He is the co-founder and co-chairman of Oaktree Capital Management, the largest investor in distressed securities worldwide. In 2019, with a net worth of $2.2 billion, Marks was ranked 370th on the Forbes 400 rankings of the wealthiest Americans. Marks is admired in the investment community for his…