Oaktree Capital's chairman Howard Marks is out with his latest memo. It is entitled "Mysterious" and deals with the topic of negative interest rates.
He writes, "The fact that we know what they are–as we do with inflation and deflation – doesn’t alter the fact that we don’t know for sure why negative rates are prevalent today, how long they’ll continue in force, what might cause them to turn positive, what their consequences are, or whether they’ll reach the U.S."
The rest of his letter follows. Embedded below is Howard Marks' latest letter:
You can download a .pdf copy here.
For more from this manager be sure to check out his books Mastering the Market Cycle as well as The Most Important Thing.
Monday, October 21, 2019
New Howard Marks Letter on Negative Interest Rates: "Mysterious"
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