giofranchi Posted February 13, 2015 Share Posted February 13, 2015 Q4 2014 Conference Call Transcript GioOAK-Transcript-Q4-2014.pdf Link to comment Share on other sites More sharing options...
undervalued Posted February 13, 2015 Share Posted February 13, 2015 Wow 30% new purchase for STOR and 19% TRCO.. He must have a big confidence in the company. Link to comment Share on other sites More sharing options...
SI Posted February 13, 2015 Share Posted February 13, 2015 STOR was something Marks IPO'd. Link to comment Share on other sites More sharing options...
undervalued Posted February 13, 2015 Share Posted February 13, 2015 It looks like his equity portfolio is smaller than I thought. Link to comment Share on other sites More sharing options...
giofranchi Posted March 3, 2015 Share Posted March 3, 2015 Oaktree Capital Group, LLC Announces Launch of Public Offering of Class A Units http://ir.oaktreecapital.com/phoenix.zhtml?c=212597&p=irol-newsArticle&ID=2021811 Gio Link to comment Share on other sites More sharing options...
giofranchi Posted March 4, 2015 Share Posted March 4, 2015 When the USD was weak, I thought it was a no brainer to hold lots of cash in short term US treasuries. Now that we have a strong USD (and as a consequence I have made money thanks to a much improved USD/EUR exchange rate), I don’t feel so comfortable anymore about holding large sums in USD denominated cash equivalents. Instead, I have decided to invest in businesses which hold lots of cash themselves and with the proven ability to raise lots of capital in a market crash. OAK imo perfectly fits the description. And my decision has nothing to do with how the stock price of these companies might behave in a market crash. I simply have no idea about what OAK’s stock price will do in a market crash. Gio Link to comment Share on other sites More sharing options...
Picasso Posted March 4, 2015 Share Posted March 4, 2015 It comes down to the price you are paying for shares of OAK today. How do you determine that OAK has a lot of cash? The latest unit offering was to cash out the other set of shares held by upper employees. Link to comment Share on other sites More sharing options...
giofranchi Posted March 4, 2015 Share Posted March 4, 2015 How do you determine that OAK has a lot of cash? Because that's what Howard Marks said during the last conference call! ;) Gio Link to comment Share on other sites More sharing options...
giofranchi Posted March 4, 2015 Share Posted March 4, 2015 It comes down to the price you are paying for shares of OAK today. If I am right about the business, I am not paying much at all! If I am wrong, then I deserve to have mediocre or bad investment results… Isn’t it always that way? Gio Link to comment Share on other sites More sharing options...
giofranchi Posted March 17, 2015 Share Posted March 17, 2015 Howard Marks on Luck and Skill in Investing Cheers, GioHoward_Marks_on_Luck_and_Skill_in_Investing.pdf Link to comment Share on other sites More sharing options...
giofranchi Posted March 26, 2015 Share Posted March 26, 2015 Howard Mark's new memo: Liquidity Cheers, GioLiquidity.pdf Link to comment Share on other sites More sharing options...
giofranchi Posted March 28, 2015 Share Posted March 28, 2015 Oaktree-backed insurer aiming to raise $2B, with IPO within five years Oaktree Capital (NYSE:OAK), along with other founding investors are expected to buy 25% of the common equity of Fidelis Insurance Holdings, a Bermuda insurer led by former Lancashire Holdings CEO Richard Brindle. The company's edge against reinsurance rivals like those set up by Dan Loeb (NYSE:TPRE) and David Einhorn (NASDAQ:GLRE), according to its pitch, is its plan to profit when prices for coverage are high, but to focus on investing during other periods. Investors today, says the pitch, will have the opportunity to cash out through an IPO in 3-5 years. Marks partners with Brindle. Gio Link to comment Share on other sites More sharing options...
giofranchi Posted March 28, 2015 Share Posted March 28, 2015 Of course, I cannot know if this is ever going to happen… But to put together Brindle’s underwriting abilities and Oaktree’s skills in investing, especially in fixed income securities, strikes me as a brilliant idea! ;) Cheers, Gio Link to comment Share on other sites More sharing options...
VersaillesinNY Posted March 30, 2015 Share Posted March 30, 2015 Howard Marks | The Most Important Thing - "Origins and Inspirations" - Talks at Google Link to comment Share on other sites More sharing options...
giofranchi Posted March 30, 2015 Share Posted March 30, 2015 Howard Marks | The Most Important Thing - "Origins and Inspirations" - Talks at Google Thank you very much for posting this! :) Cheers, Gio Link to comment Share on other sites More sharing options...
VersaillesinNY Posted April 12, 2015 Share Posted April 12, 2015 A Conversation between Joel Greenblatt and Howard Marks @ Wharton University Link to comment Share on other sites More sharing options...
Zorrofan Posted April 12, 2015 Share Posted April 12, 2015 It comes down to the price you are paying for shares of OAK today. How do you determine that OAK has a lot of cash? The latest unit offering was to cash out the other set of shares held by upper employees. Top insiders cashing out is what worries me about following Gio into this one...... cheers Zorro Link to comment Share on other sites More sharing options...
peter1234 Posted April 12, 2015 Share Posted April 12, 2015 A Conversation between Joel Greenblatt and Howard Marks @ Wharton University Thank you! :) Link to comment Share on other sites More sharing options...
giofranchi Posted April 13, 2015 Share Posted April 13, 2015 Top insiders cashing out is what worries me about following Gio into this one...... FYI I have sold to buy FIH. I still think Packer is right about OAK’s future prospects, and I expect to be buying again as soon as I have significant new capital to deploy. Gio Link to comment Share on other sites More sharing options...
giofranchi Posted June 9, 2015 Share Posted June 9, 2015 Risk Revisited Again GioRisk_Revisited_Again.pdf Link to comment Share on other sites More sharing options...
giofranchi Posted June 30, 2015 Share Posted June 30, 2015 Howard Marks: The ‘Uncomfortably Idiosyncratic’ Billionaire | Observer http://observer.com/2015/06/howard-marks-the-uncomfortably-idiosyncratic-billionaire/ Gio Link to comment Share on other sites More sharing options...
fareastwarriors Posted June 30, 2015 Share Posted June 30, 2015 Molycorp Creditor Oaktree Scores With Savvy Move Molycorp Inc.’s bankruptcy is poised to leave credit-investing giant Oaktree Capital Group LLC unharmed while rival Apollo Global Management LLC and other junior creditors lick their wounds http://www.wsj.com/articles/molycorp-creditor-oaktree-scores-with-savvy-move-1435525937 Link to comment Share on other sites More sharing options...
VersaillesinNY Posted July 19, 2015 Share Posted July 19, 2015 Oaktree Howard Marks: Masters in Business (Audio) Jul 19, 2015 http://www.bloomberg.com/podcasts/masters-in-business/ Link to comment Share on other sites More sharing options...
dcollon Posted October 2, 2015 Share Posted October 2, 2015 Brief Interview with Howard Marks on CNBC http://video.cnbc.com/gallery/?video=3000428366 He is going to be presenting next week at MOI's European conference Link to comment Share on other sites More sharing options...
Picasso Posted October 2, 2015 Share Posted October 2, 2015 Well shares have declined 18% since I went short and the way people said it would trade counter cyclical just hasn't happened. We'll see how much capital they raise during this time but I haven't seen anything that changes my mind on the short. It never went above what I considered the risk on the short, so I think this was a fairly good hedge. Link to comment Share on other sites More sharing options...
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