Howard Marks: Oaktree's closed-end funds allow aggressive crisis investing
Howard Marks · 20VC: Howard Marks on How COVID-19 Impacts Our Economy, Liquidity and National Debt, Why The Theory of Falling Knives and Market Bottoms is Wrong & Why The Best Investors Are Fundamentally Unemotional · Mar 30, 2020 · at 18:52
Howard Marks, co-founder of Oaktree Capital, contrasts Oaktree's long-term fund structure with hedge funds that face liquidity demands and client redemptions during market downturns.
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“So the great thing about Oak Tree's position is that a good bit of our assets are in closed end funds where the clients can't withdraw. They've committed money to us. We have it for up to 10 years, and we can do what we think is smart without having to worry about withdrawals.”
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