Hi everybody, I'm here in Oslo with the co-founder of Oak Tree Capital, the investment guru Howard Marks. Great to have you here.

You are one of the world's most impressive and respected investors and also very famous for writing various

kinds of memos. Now, we'd love to start off by just asking what got you started in finance

in the beginning. You know, I was very fortunate. I went to the public schools in New York

and schools were crowded and difficult, one day one of my buddies said they're

teaching a course in accounting we should take it and I took it I loved it and

how many people love accounting not too many but you know it has a it has a symmetry that a certain kind of mind responds to.

So I took it and I loved it and, you know, that I decided to become an accountant.

Excuse me, what is that certain kind of mind? What is that?

Well, I think very left brain logical literal mathematical and but

it's really the symmetry it's the balance between the left and the right

when I look when I walk through Oslo and I see the very symmetrical

architecture I enjoy it some other people might think it's boring or too regular.

But, you know, I responded very strongly. And so I went off to Wharton to become an accountant.

And then I was introduced to finance, which is actually, of course, much more interesting.

And switch to finance it's

interesting because most places they say finance but I warden that they say

finance I think that's right yeah very good now what is your investment philosophy

now what is it my philosophy is I guess it's oak tree's philosophy, six very simple points. Number one, risk

control. I believe it's easy to make money in the market. That's especially true in the good years,

and most years are good years. The challenge, the real skill, is to make money with the risk under control so that if it turns

out to be a bad year instead, you won't do too badly.

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