Howard Marks, The State of the Market

Motley Fool Money

The Motley Fool

Business, Investing

4.4 • 3K Ratings

🗓️ 15 June 2025

⏱️ 64 minutes

🔗️ Recording | iTunes | RSS

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Summary

Howard Marks the founder of Oak Tree Capital Management. He joins Motley Fool CEO, Tom Gardner, plus Chief Investment Officer Andy Cross and Senior Analyst Buck Hartzell for a conversation about: - How investors should think about the deficit - Investing in human emotion - The inescapability of risk Hosts: Tom Gardner, Andy Cross, Buck Hartzell Guest: Howard Marks Engineers: Bart Shannon, Dan Boyd Advertisements are sponsored content and provided for informational purposes only. The Motley Fool and its affiliates (collectively, "TMF") do not endorse, recommend, or verify the accuracy or completeness of the statements made within advertisements. TMF is not involved in the offer, sale, or solicitation of any securities advertised herein and makes no representations regarding the suitability, or risks associated with any investment opportunity presented. Investors should conduct their own due diligence and consult with legal, tax, and financial advisors before making any investment decisions. TMF assumes no responsibility for any losses or damages arising from this advertisement. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:31.7	Most people are subject to emotion and that emotion causes people to buy high and sell low,
0:37.0	then what you've got to do is you've got to
0:39.3	tie your hands and not do it. Now, we run funds, they're institutional funds, they're not open
0:45.4	to the public, but in many of our funds, you lock up your money for 10 years. You can't get out.
0:52.9	And it's kind of like Odysseus tying himself to the mast when he had to
0:57.8	sail past the sirens. That's Howard Marks, the celebrated value investor and founder of Oak Tree Capital
1:04.5	Management. Earlier this week, Marks joined a motley group of fools, including CEO Tom Gardner,
1:09.8	chief investment Officer, Andy
1:11.0	Cross, and senior analyst Buck Hartzell on our live stream, Fool 24, to discuss the state
1:16.4	of the market. We're replaying the conversation in full here on Motley Full Money, in case
1:21.0	you missed that live version. Buck and Andy, great to have you both here.
1:34.3	I was reflecting a little bit on all the many things that we've studied and learned from Howard Marks and from Oak Tree over the years.
1:42.3	And then I was thinking, I wonder, and we'll ask Howard as he,
1:45.0	as he joins us, I wonder if it gets a little annoying for Howard and his team of many, many great
	...

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