Howard Mark's New Memo - 'Liquidity'

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Mar 26, 2015

Oaktree Capital's Howard Marks (Trades, Portfolio) has released a new memo, "Liquidity." In the paper he defines and characterizes the concept and advises investors on how to handle periods of illiquidity. "We're not immune to occasional periods of illiquidity," Marks writes. "Our holdings become just as hard to sell as anyone else's. But with the proper structure and approach, it's possible to turn such periods to our advantage rather than just endure them."

Read the memo here.