Wow, what a legend is Howard Marks! Taking control of a sports club of the likes of Inter Milan, because a debtor defaulted on their repayment
@Cos_Why_Not
3 ай бұрын
That is how lending money works, yes.
@jzzzxxx
3 ай бұрын
vastly overvalue FC, that itself is saddled with 1B EUR in debt, a payroll of 200M EUR per year, and a coach that wanting out.
@OfficialFA
3 ай бұрын
Italian clubs seem to be struggling to compete in Europe...Inter came calling & Oaktree took the opportunity...good deal
@balkanleopard9728
3 ай бұрын
Sometimes you have to listen to this sort of nonsense so that you understand just how insane the USA is. Well done Bloomberg.
@farzana6676
3 ай бұрын
What are you talking about 😂😂😂
@JamesMEsler
3 ай бұрын
He says the thesis in Japan is that ultralow rates in Japan will persist.. but also that they make no macro top down bets… this guy double talks better than anyone in the business
@JG-re2bb
3 ай бұрын
he has also said that he doesnt do macro interest rate forecasts before proceeding to give one
@chuencainseow5786
3 ай бұрын
I am surprised by his response at 10:05 - (paraphrase) "Japanese culture is conservative... other than a LITTLE burst in the 80s, Japanese are not used to aggressive financing..." A LITTLE burst that cost Japan 30+ years of economic stagnation.. He looked like an unwilling or unprepared guest btw.
@Zero11_ss
3 ай бұрын
He looks kinda rough like he lost a ton of money or something
@RickyPayaso
3 ай бұрын
Well, he did have cancer last year
@ChrisE1415
3 ай бұрын
He seems very reluctant to say more than vague generalities on China. She asked him for his opinion a few times, and he didn't really give much except vague strangeness.
@patrickheiskanen2610
2 ай бұрын
Could harm him / block him doing business there. What good there is for him to insult the ccp?
@ChrisE1415
2 ай бұрын
@@patrickheiskanen2610 Wasn't criticizing just pointing out
@patrickheiskanen2610
2 ай бұрын
@@ChrisE1415 Yes! Would have loved to hear more about it. You just cannot say really nice things about chinese economy now but Im so glad that he pointed out the fact that they HAVE been handed the keys to defaulted properties. 👍 Would love to know more of their exposure and deals in China
@matbob7249
19 күн бұрын
And what would he tell investors he represents when China will retaliate against him? That’s why he’s so successful- he won’t allow his mouth to ruins those who trust their money with him.
@Brayness
3 ай бұрын
Howard Marks is the new EF Hutton
@rustler160
3 ай бұрын
People listen when he talks!
@rkirby7183
3 ай бұрын
If they're investing in distressed properties in China, or loans backed by properties, hopefully they actually visit the properties to evaluate them. Most of these are tofu-dreg construction which will never be anything but ruins.
@leeliu6867
3 ай бұрын
Lol same way it happens in the usa 2008
@rkirby7183
3 ай бұрын
@@leeliu6867 Yep, in 2008 there were some foreclosed houses that were junk, but most were good. I know because I was there, passed up a few junkers and found a good bargain. The difference is that the US had building standards that are sometimes, but not regularly bribed away. And the overbuilding in even the hottest markets wasn't anywhere near what's happened in China. It's not a market I'd want to invest in.
@wakamakulet
3 ай бұрын
@@leeliu6867 agree
@MegaPapa8888
3 ай бұрын
Reluctant speaker who is forced to tell.
@simrans3675
3 ай бұрын
Legend
@hansdoreen
3 ай бұрын
I agree. But that doesn't mean he shits rainbow.
@simrans3675
3 ай бұрын
@@hansdoreen No, he doesn't. He is a realist, humble, smart man :-). The next generation of investors are going to miss the class of Marks, Buffett, Munger et al....truly smart yet extremely grounded and genuine folks in a space marred with scams and frauds aka the street
@togoni
3 ай бұрын
Howard got a finger in China 😂😂
@spljapan
3 ай бұрын
Legal system in the US?? Ask Julian Assange and Snowden pls.
@Rainy_Day12234
3 ай бұрын
We’re a banana republic
@Yomamaissoo
3 ай бұрын
If you listened to him, you lost tons of money.
@JusteMoi-l2m
3 ай бұрын
Kyle Bass must be so content that Chinese real estate blew up and investors like Howard lost money helping them.
@ooc6921
3 ай бұрын
Where could read his memos ?
@steveboyd3455
3 ай бұрын
Oaktree website
@pornstarpat
3 ай бұрын
Also can listen to them via his podcasts
@mikesalvaggio20
2 ай бұрын
him and Ray Dalio got caught with their hands in the China cookie jar........
@DaleReeves232
3 ай бұрын
what a joker getting paid millions to give that sort of advice
@qake2021
3 ай бұрын
👏👏👏👏👏🇨🇳✌️
@keimo2007
3 ай бұрын
Who's going to borrow money from him, bc he always comes up with the plot to steal their assets.
@Cos_Why_Not
3 ай бұрын
What are you talking about? This is how lending money works. You borrow money, you collaterize something for it, you pay back the loan with interest, and if you can't, the person who lent you the money will take control of the collateral.
@keimo2007
3 ай бұрын
@@Cos_Why_Not You seem somewhat naive, his plots are actually much more sinister.. I'm surprised they haven't yet put him behind bars.
@theonlycaulfield
3 ай бұрын
It's not a plot. The former Chinese owner of Inter Milan coudn't repay their loan. If you can't repay your loan on something, then you don't really own that thing you bought with the loan.
@theonlycaulfield
3 ай бұрын
Also on the collateral point that the other mentioned, the collateral had already been agreed upon as a majority stake when the loan was made.
@raywest3834
3 ай бұрын
6:35 He obviously didn't appreciate Yvonne Man's question on the Evergrande catastrophe. Collateral from this company is likely in unfinished apartment blocks in Tier 3 cities, and as valuable as Titanic's insurers being able to salvage the wreck.
@williamc4221
3 ай бұрын
You can't possibly know what their collateral was.
@raywest3834
3 ай бұрын
@@williamc4221 They were a zombie company, building apartment complexes paid for by future sales: All they had for collateral was bare land and unfinished buildings.
@jzzzxxx
3 ай бұрын
@@raywest3834 would be very stupid to accept land or unfinished building as collateral, yes. these developers however have very lucractive property management businesses on condos already sold (think high HOA fees with little services). suspecting that's what they confiscate from the defaults, and continues to collect the fees for as long as the govt allows them to.
@titusp9488
3 ай бұрын
Yeah you think Howard marks don’t know what collateral is and should be😂😂😂
@raywest3834
3 ай бұрын
@@titusp9488 In first-world countries, Marks' Oaktree is very good at securing its loans, but in dealing with Communist China, they found out that the law was whatever the CCP said it was, and Evergrande, now essentially nationalized, ignored Oaktree's collateral, and sold the land in Hong Kong, know as Project Castle, to a government backed developer.
@phongy45
3 ай бұрын
Really ? ... really, America, so great????
@bh-777
3 ай бұрын
I was thinking the same. Is the economy of the US good !?
@Dwn2Race
2 ай бұрын
China Hustle….
@stephanierandall1170
3 ай бұрын
🔥
@davidblick2192
3 ай бұрын
Read the Bible for ultimate answers.
@steveboyd3455
3 ай бұрын
Yes, in Proverbs I believe it says buy Microsoft under $420 a share.
@huperthomas7539
2 ай бұрын
I'm a 19 year old who only started trading recently.... But I'm failing��... I really aspire to be profitable like you👖
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