Hello everyone welcome to industry focus financials edition this is Gabby

lepero with John Maxfield on the phone this week we're going to be talking about

financial literacy and we hope that you were literate too probably are because he found this podcast on iTunes either that or

you're just randomly clicking around the internet.

So let's get started with this week. This week we're going to start with 13

f's which we're due maybe like a week or so ago. 13 f's are an SEC filing with a super long official name.

They're formally known as information required of institutional investment managers form.

So these things come out every quarter and they're required of any institutional investor

with over $100 million in qualifying assets and they have to be filed within 45 days of the end

of the quarter.

So all of them should be in for the third quarter by now.

These things are really super cool because they provide information on what these giant investors have holdings in.

Of course, they only work if the firm, if the firms were reporting honestly, which was a huge problem

with Bernie Madoff.

Yeah, there are a lot of problems.

There were a lot, but this was one of them.

Thirteen nests are certainly a huge one.

And just to add a little bit more substance to the 13-S, let's say you're sitting there as investor and that you love I don't know let's say I don't know again

what do you think Warren Buffett maybe? Sure, um Oak Tree Capital. Let's do Oak Tree Capital.

Oak Tree Capital. A great one run by a guy named Howard Marks, brilliant,

brilliant investment manager, distressed that guy, not as big into equities, but a great choice.

In fact, Howard Marks is one of the most brilliant, he's got this great, Howard Mark is one of the most brilliant,

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