Subject: Re: Howard Marks on BN/Oaktree and private credit
as anyone tracking oaktree's public bdc fund ocsl knows (or their defunct vanguard fund), the record is usually bad in normal and boom times.
mostly true for oaktree in general, although not for their principals.

thus, this online snark is a little too perfect :
"Howard Marks with a memo on Private Credit.
Let me guess his view: it might be bad. It might not be that bad. We don't know. I only buy stuff every 10 years."