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The Memo by Howard Marks

The Pendulum in International Affairs

The Memo by Howard Marks
The Memo by Howard Marks

Howard Marks’s latest memo connects two seemingly unrelated trends – Europe’s energy dependence and U.S. offshoring – to explain why the pendulum of companies’ and countries’ behavior may be swinging away from globalization and toward onshoring. This shift will likely create risk for investors but also opportunities.

The memo is read by LJ Ganser.

You can read the memo here (https://www.oaktreecapital.com/docs/default-source/memos/the-pendulum-in-intl-affairs.pdf).

The Memo by Howard Marks
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