The Hallmark of a Bubble, The Long Term Consequences of Massive Government Stimulus and Bank Earnings

Yesterday, the great Howard Marks came out with one of his memos. I consider Marks one of the Top 15 investors of all-time and I try to read most of his memos. Yesterday’s memo, “Coming Into Focus” (https://www.oaktreecapital.com/docs/default-source/memos/coming-into-focus.pdf), was one…

America on the Brink

George Floyd died at a moment of extreme dysfunction in American political life. Relations are so poisonous and so polarized between the parties that we are not seeing the kind of bipartisan meetings on Capitol Hill that typically occur at…