Below is the latest memo from the ever insightful Howard Marks at Oaktree Capital.
A Fresh Start (Hopefully)
by Howard Marks
That link goes to the Oaktree site where the PDF can be downloaded or read. All of Marks' past memos are posted on that page as well. Marks is one of the few who imparts pearls of investment wisdom that remain relevant through various market and economic periods. His memos are all there for free, or you can read the cliff notes version in his excellent book: The Most Important Thing: Uncommon Sense for the Thoughtful Investor.