Articles in - Month: May 2020

Know What You Don’t Know: Six Tips from Howard Marks, CFA

“No amount of sophistication is going to allay the fact that all of your knowledge is about the past and all your decisions are about the future.” — Howard Marks, CFA Oaktree Capital Management co-chair Howard Marks, CFA, sat down with Bloomberg senior editor...

The NMC Health Debacle: Four Red Flags?

NMC Health (“NMC”) was founded in Abu Dhabi in 1975 and expanded to become the United Arab Emirates (UAE)’s largest health care company. Listed on the FTSE 100, NMC operated in 19 countries and employed 2,000 doctors and nearly 20,000 additional staff. Then its...

Forecasting the Post-Coronavirus World

As we move past what we hope is the peak of the COVID-19 pandemic, the focus of investors is shifting from the immediate economic damage to the way out of lockdown and on to a new normal. Since this is an unprecedented crisis, the forecasts of what the world will look...

Modern Private Equity and the End of Creative Destruction

“The more leveraged takeovers and buyouts now, the more bankruptcies tomorrow.” — John Shad, chair of the Securities and Exchange Commission (SEC), 1984 When the Reagan administration pushed for widespread deregulation in the early 1980s, financial services benefited...

Three Tools to Improve the Fund Manager–Client Relationship

The investor–fund manager relationship always seems to be in a state of flux. When markets are down, investors may start to think about making a change. When a new technology comes along, clients begin to wonder whether they can manage their own holdings on the cheap....