Episode description

Howard Marks doesn’t make bets on economic predictions. That’s especially true now when the biggest wildcard is inflation – a phenomenon no one fully understands. But just because something is unknowable doesn’t mean it’s unimportant. That’s why Howard has devoted his latest memo to a topic he largely disavows: macro forecasting. (July 29, 2021)

You can read the memo here (https://www.oaktreecapital.com/docs/default-source/memos/thinkingaboutmacro.pdf).

The memo is read by LJ Ganser.