Howard Marks – Oaktree Capital
Howard Marks is the Founder and Chairman of Oaktree Capital Management, which currently has $79bn of assets under management. According to Bloomberg in 2010, “Oaktree’s 17 distressed-debt funds have averaged annual gains of 19 per cent after fees for the past 22 years – about 7 percentage points better than its peers”. Howard has been managing high yield bonds and convertible securities since 1978 when he started at Citibank. He is well known in the value investing community for his wise, insightful and clearly written memos. According to Warren Buffett “When I see memos from Howard Marks in my mail, they’re the first thing I open and read. I always learn something.” Howard is the author of the book “The Most Important Thing: Uncommon Sense for the Thoughtful Investor”.