Plunking Down Money on the Dogs
Last night was a horrifying example of what the next several weeks hold for us. The World Series had a travel day and there were no sports on television. Well, sure there were hockey games, but I have never warmed up to the sport -- and, other than this, after Friday night a long dark stretch of sports-free weeknights looms until December. So, with no ball game to watch, I've turned my attention to the filing of our last vulture of the week.
Howard Marks of Oaktree Capital is one of my favorite idea sources. Regardless of what your approach to the markets is, you need to be reading his quarterly investor letter on the firm's website. His book, The Most Important Thing, is a new classic and should be on everyone's reading list. As with many of the other distressed investors I follow closely, Mr. Marks has been at this a long time. He started trading and investing in distressed securities back in the 1970s and founded Oaktree in 1995....498 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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