Customer Quote by Howard Marks
““little known and not fully understood; fundamentally questionable on the surface; controversial, unseemly or scary; deemed inappropriate for “respectable” portfolios; unappreciated, unpopular and unloved; trailing a record of poor returns; and recently the subject of disinvestment, not accumulation.””
About This Quote
Source Letter: Memo to Oaktree Capital Investors, 2023
The quote describes assets or investments that are misunderstood, controversial, and often avoided, yet may offer opportunities despite poor past performance.
In simple terms: Unpopular assets are often shunned despite potential value.
Key Takeaway
Consider overlooked investments carefully.
Themes
risk
controversy
valuation
market perception
Mood
cautious
analytical
inquisitive
Type
advisory
analytical
When to use this quote
- portfolio diversification
- risk assessment
- due diligence
- investment research
- strategic allocation
Key Concepts
behavioral finance
asset mispricing
disinvestment
alternative assets
Questions to Reflect On
- What factors truly drive the negative perception of these assets?
- How can investors differentiate between hype and real opportunity?
A Different Perspective
Unpopularity may stem from genuine risk rather than mere perception.
