Top 5 of 2025: #1: Howard Marks

In this episode of Capital Allocators, Ted Seides interviews Howard Marks, co-founder of Oaktree Capital Management, about his career, investment philosophy, and views on the evolving credit landscape. Marks discusses his early experiences in finance, the importance of risk control, and the cyclical nature of markets. The conversation explores the growth of private credit, its implications for investors, and the distinctions between private and public credit. Marks also touches on the challenges in private equity, the trend of asset manager M&A, and his experiences as a public company, while sharing his insights on successful investing and adapting to market changes.