Billionaire investor Howard Marks, co-founder of Oaktree Capital Management, has spent more than five decades studying financial markets, investment risk, and speculative bubbles. His firm, founded in 1995, has grown into a global investment powerhouse managing more than $200 billion in assets. Marks is particularly famous for his expertise in distressed debt, but his reputation also rests on his ability to recognize dangerous levels of optimism in financial markets.
