market folly

Howard Marks of Oaktree Capital is out with his latest commentary and we thought we'd post it up for those interested. Just last week we posted up Marks' in-depth review of 2009, a great read from the Oaktree Chairman. His commentary this time around is actually a follow-up to his last piece, "Tell Me I'm Wrong," where he outlined things in the investment world that concerned him.

His latest piece entitled, "I'd Rather Be Wrong" focuses on the government's inability to tackle financial problems. He's vehemently frustrated with the political situation and writes, "That brings me to the subject of one of today's greatest stumbling blocks, the absence of that elusive ideal: bipartisanship." Obviously, this missive is much more political and not investment related. However, the ramifications of various political actions will ultimately impact the financial industry, so we can understand Marks' concern.

Embedded below is Oaktree Capital and Howard Marks' latest commentary:



You can directly download the .pdf here.

For investment insight from Oaktree Capital, we highly recommend reading Howard Marks' 2009 review and his list of ways to play inflation.