Thinking About Macro

Howard Marks doesn’t make bets on economic predictions. That’s especially true now when the biggest wildcard is inflation – a phenomenon no one fully understands. But just because something is unknowable doesn’t mean it’s unimportant. That’s why Howard has devoted his latest memo to a topic he largely disavows: macro forecasting. (July 29, 2021)
You can read the memo here (oaktreecapital.com/docs/default-source/memos/t…) (oaktreecapital.com/docs/default-source/memos/t…).
The memo is read by LJ Ganser.