Market
Memos from Howard Marks: The Indispensability of RiskOaktree described their approach to distressed investing in simple terms: they look for “good companies with bad balance sheets.” This description made sense in 1985 when Oaktree co-founder Bruce Karsh became a pioneer in this investment style, in 1988 when the fund that laid the foundation for the firm’s Distressed Debt platform was created, and in 1995 when Oaktree officially opened its doors.