19 May 2022
Howard Marks
Session 8a ‘A fireside interview with Howard Marks about his memos and other reflections’
Speaker: Howard Marks; Co-founder and co-chairman of investment firm Oaktree Capital Management.
This fireside interview with Howard Marks will be anything but calming as we expect an inferno of thought, idea and action to ensue.
Howard Marks is an American investor and writer. Marks is the co-founder and co-chairman of Oaktree Capital Management, the largest investor in distressed securities worldwide. He is admired in the investment community for his ‘memos’, which detail his investment strategies and insight into the economy and are posted publicly on the Oaktree website.
Personal Reflections from Patrick Schotanus:
“Howard is a leading member of that golden generation of hedge fund managers which also includes, for example, Paul Tudor-Jones, Julian Robertson, and George Soros. Famous for his insightful memos, read by many professional investors, Howard uniquely conveys what it’s really like to be in the market with skin-in-the-game. Always modest about their value, his gems deserve much more exploration, especially by cognitive scientists. It was an absolute delight and honour to interview Howard for our symposium. What can you expect? Not surprisingly, we talked about a wide variety of subjects, like his concept of the “pendulum”, flaws of the EMH (and mechanical economics generally), and—importantly—the market mind and its mood.”
Dylan Grice
Session 8b ‘What if the Market Mind Hypothesis is correct?’
Speaker: Dylan Grice; Co-founder of investment firm Calderwood Capital
Dylan Grice is the co-founder of Calderwood Capital and author of the highly-respected macro research publication Popular Delusions. Dylan started his career at Dresdner Kleinwort Benson in 1997 in the Quant, Strategy and Economics group before moving to Société Générale’s highly regarded global strategy team. He was the top ranked sell-side analyst for several years before leaving for Switzerland.
Personal reflections from Patrick Schotanus:
“When Dylan appeared on the sell-side scene, he not only had to team up with the most famous bear (Albert Edwards) but also had some big shoes to fill, namely those left by James Montier. He handled it impressively, developing his own style of discussing investment topics and making bold calls (e.g. long-term weakening yen). Late last year he showed his philosophical side by sharing his reflections on Epictetus in his Popular Delusions. For our symposium I set Dylan a difficult challenge which he courageously accepted: attempting to answer the question “What if the MMH is correct?” If anybody can handle this challenge, it’s Dylan.”
See the full agenda here | Find the pre-symposium material here
