Marks: High-Yield Bonds Have Been Central to 40 Years of Finance
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 3:49
Howard Marks is the co-founder and co-chairman of Oaktree Capital Management. Speaking on 20VC, he reflects on his early career starting a high-yield bond fund at Citibank in 1978.
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“In 78, I was asked to start a high-yield bond fund, and high-yield bonds have been the, shall we say, epicenter, although it's an advised word today, for almost everything that's happened, interestingly, in finance in the last 40 years.”
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