Johannes Salim, CFA

Thematic (Sector/Industry)

United states / Thematic (Sector/Industry)

<ul>
<li>Oaktree Capital's Howard Marks senses some kind of market bubble developing in every asset class.</li>
<li>But, there is no way in predicting the timing or when the market bubble would burst.</li>
<li>QE results in a rich market valuation, not a runaway inflation.</li>
<li>Hence, the biggest risk to monitor is how QE unwinds, be it in an orderly or disorderly manner.</li>
</ul><p>In this Hedge Hogging Series note, we would like to highlight an investment memo (published at end of Jul) from one of famous value investors in our era, Howard…</p>


Oaktree Capital's Howard Marks senses some kind of market bubble developing in every asset class.
But, there is no way in predicting the timing or when the market bubble would burst.
QE results in a rich market valuation, not a runaway inflation.
Hence, the biggest risk to monitor is how QE unwinds, be it in an orderly or disorderly manner.
In this Hedge Hogging Series note, we would like to highlight an investment memo (published at end of Jul) from one of famous value investors in our era, Howard…

Hedge Hogging Series: What If Oaktree's Howard Marks Is Prescient Again in Predicting Market Bubble?