In my opinion, the key to dealing with the future lies in knowing where you are, even if you can't know precisely where you're going. Knowing where you are in a cycle and what that implies for the future is very different from predicting the timing, extent and shape of the next cyclical move.
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Howard Marks
Co-founder and co-chairman of Oaktree Capital Management
United States · b. 1946
Business and finance
About
Co-founded Oaktree Capital Management in 1995, having previously run distressed debt and high yield portfolios at TCW and Citicorp. He has published memos to Oaktree clients since 1990.
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