Hello folks, here is one of my fave definition about success in investing, HOWARD MARKS once said, "Success In Investing Is A Function Of What You Pay, Not What You Buy" , In a recent visit to Wharton, Oak Tree Capital's Howard Marks, gave some solid investing advice. Speaking of his time working at Citibank in the 1970s and 80s, Marks said Citibank's Nifty 50 policy meant it "invested in "the best companies in America and lost a lot of money." Then it began to invest in "the worst companies in America and made a lot of money." Looking back at that he said "it shouldn't take you too long to figure out that success in investing is not a function of what you buy. It's a function of what you pay."
Citibank asked Marks to look into high yield bonds in 1978 and he started its portfolio of high yield bonds for them. Oaktree is the world's largest distressed-debt investor according to Bloomberg.
Investors Are Increasingly Interested In Local Investments (The Wall Street Journal), Investors are beginning to pay more attention to local investments, writes Katherine Collins is chief executive of Honeybee Capital, in a new WSJ column. While many investors already have such investments in mind, others are interested in investments in their community but not sure how to go about finding them.
"The point is local investments take many forms, from local municipal bonds to more entrepreneurial ventures like lending groups and crowdfunding campaigns. And because of the growing interest in this investment space, advisers and clients have access to more resources, whether they be online or through local community organizations, than ever before."
Source: business insider
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