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The Memo: The Pendulum in International Affairs

In Howard Marks’ latest memo, he connects two seemingly unrelated trends – Europe’s energy dependence and US offshoring – to explain why the pendulum of companies’ and countries’ behaviour may be swinging away from globalisation and toward onshoring. This shift will likely create risk for investors, but also opportunities. Listen to the memo below, or read the PDF here.

 

You can also listen to the 'Behind the Scenes' of the Memo, where Marks discusses the origins and important themes of the recent memo: The Pendulum in International Affairs.

 

Disclaimer: This material has been prepared by Oaktree Capital, recorded in March 2022. HM1 is not responsible for the content of linked websites or content prepared by third party. The inclusion of these links and third-party content does not in any way imply any form of endorsement by HM1 of the products or services provided by persons or organisations who are responsible for the linked websites and third-party content. This information is for general information only and does not consider the objectives, financial situation or needs of any person. Before making an investment decision, you should read the relevant disclosure document (if appropriate) and seek professional advice to determine whether the investment and information is suitable for you.

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