Easy Money

In his latest memo, Howard Marks considers what financial history
can teach us about periods of easy money, the impact they have on
investor behavior, and what happens when they end. He
analyzes macroeconomic trends using insights from Edward
Chancellor’s latest book The Price of Time: The Real Story
of Interest to argue that we’re unlikely to soon see the
return of the permissive investment climate that prevailed in
recent decades.


The memo is read by LJ Ganser.


You can read the memo here
(https://www.oaktreecapital.com/insights/memo/easy-money).