6-ft tall man drowns in a river that is 5-ft deep on an average.
By Baniya Beast,
Howard Marks as I know him is smart and outspoken. He didn’t read any investing book when he was in the school unlike some of his counterparts nor did he trade in equity markets until he graduated from the Wharton School at the University of Pennsylvania in 1967. So what makes his fund Oaktree Capital Management Inc. special?
Observing the fund performance, Oaktree Capital fared between 27th percentile to 47th percentile for each year for a period of 14 years. So it never ranked above 27th percentile nor did it rank below 47th percentile for each of those years. This prima facie hangs him in the 2nd quartile with an average ranking of 37th percentile.
Then what’s so fascinating about Howard Mark’s fund?
He cemented 4th percentile position for a performance horizon of 14 years clubbed together which is mysterious. Why not 37th percentile?
“Because it attests that when people blow up they blow up really big. It is the steadfastness that separates the wheat from the chaff.”
This article was originally published by author Baniya Beast.