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ed from USC cum bode with a degree in finance. Charles Schwab (NYSE: SCHW) — Long 9th Annual Pershing S
d insights not only to us, but also to the invest- ment community as a whole. and we thank you for reading. - G&Dsville Editors Howard Marks from Oaktree, pictured here giving the keynote talk at the CSIMA Conference in January 2016 Columbia Business School students help at registration for the 19t
from Arthur Levitt, Alan Greenspan, Fred Smith, Charles Schwab and Tyler Cowen. The book features an ap
half ago and now they are three points lower. I don't have the luxury of being down 6% in a month trying to make my money next year. Firms like Oaktree and Apollo with longer term money are buying hand over fist right now. They're all suffering near term losses because energy bonds have gone dow
to go, he said something about investing that I keep going back to: "It's not supposed to be easy. Anyone who finds it easy is stupid." As usual, Charlie packed a great deal of wisdom into just a few words. Let's take the first six: "It's not supposed to be easy." While it's pretty simple to achieve a
f short-term investing, and I go through it only to provide a graphic illustration of the difference between first-level and second- level thinking. Oaktree and I aren't focused on short-term results, and the thinking we apply to long-run considerations is quite different. We think much less about what o
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