The Minutes of Howard Marks on crisis investing https://minutesof.com/howard-marks/on/crisis-investing/ Everything Howard Marks has said on crisis investing: 8 verbatim quotes between May 2022 and April 2026, each with a timestamp and a link to the recording… en Sun, 30 Aug 2026 16:22:27 +0000 Marks describes Oaktree's crisis investing logic: if world melts down, nothing matters; if not, they must inve https://minutesof.com/q/d083f740-0250-435f-87a6-0ed21eb1cc7c/ https://minutesof.com/q/d083f740-0250-435f-87a6-0ed21eb1cc7c/ “If the world melts down, it doesn't matter what we did today. But if it doesn't melt down and we didn't invest, then we didn't do our job.” — Wharton School Tue, 21 Apr 2026 16:17:40 +0000 crisis investing Marks explains crisis investing requires pre-raised capital, nerve to deploy it, and clean portfolio to act. https://minutesof.com/q/06bc2e66-5637-4113-8c75-07565b98b63f/ https://minutesof.com/q/06bc2e66-5637-4113-8c75-07565b98b63f/ “Nobody will give you money to invest during a crisis. We had pre raised it. And you have to have the nerve to spend it.” — Wharton School Tue, 21 Apr 2026 16:17:40 +0000 crisis investing Marks reveals Oaktree raised ten billion dollars for distressed debt before Lehman collapsed, three times larg https://minutesof.com/q/3dd5956e-3106-4f95-b78b-7ccc06d7db00/ https://minutesof.com/q/3dd5956e-3106-4f95-b78b-7ccc06d7db00/ “When Lehman Brothers went bankrupt in mid September of o eight, we had raised the biggest distressed debt fund in history by a factor of about three.” — The Investor’s Podcast Sat, 13 Dec 2025 22:45:06 +0000 crisis investing Marks deployed seven billion dollars in Q4 2008 at 450 million per week for fifteen weeks after Lehman's colla https://minutesof.com/q/cdede4b7-aa91-4c7d-b5a7-0eca1dafa8de/ https://minutesof.com/q/cdede4b7-aa91-4c7d-b5a7-0eca1dafa8de/ “He ran the fund in question and he bravely invested an average of $450,000,000 a week for the next fifteen weeks. That's $7,000,000,000 in one quarter.” — The Investor’s Podcast Sat, 13 Dec 2025 22:45:06 +0000 crisis investing But if I don't invest it and the world doesn't melt down, then we didn't do our job. QED, you have to move for https://minutesof.com/q/600fc1a2-737c-4c69-b1fe-84b75fdc3a9c/ https://minutesof.com/q/600fc1a2-737c-4c69-b1fe-84b75fdc3a9c/ “But if I don't invest it and the world doesn't melt down, then we didn't do our job. QED, you have to move forward.” — My First Million Fri, 22 Aug 2025 12:36:27 +0000 crisis investing Marks deployed $450 million weekly for fifteen weeks during financial crisis, $650 million weekly across all O https://minutesof.com/q/401264b4-9727-41b7-b7ff-54d620210895/ https://minutesof.com/q/401264b4-9727-41b7-b7ff-54d620210895/ “So as you say, we invested $450,000,000 a week for the next fifteen weeks in that fund, which was 7,000,000,000 and Oaktree overall invested an average of $650,000,000 a week for the next fifteen weeks.” — My First Million Fri, 22 Aug 2025 12:36:27 +0000 crisis investing Marks explains Oaktree's logic for buying during the Lehman crisis: if the system melts down, nothing matters https://minutesof.com/q/789539a4-30c2-45f4-b54f-4e486f74c772/ https://minutesof.com/q/789539a4-30c2-45f4-b54f-4e486f74c772/ “Either the financial system is going to melt down or it's not. If it melts down, it doesn't matter whether we bought or not, because it's, you know, it's game over for everything.” — Goldman Sachs Thu, 30 Jun 2022 15:18:25 +0000 crisis investing Marks says Oaktree deployed ten billion dollars in fifteen weeks after Lehman collapsed, averaging 650 million https://minutesof.com/q/1d5a97a9-8c38-4758-b56f-8d0a5a3d92a4/ https://minutesof.com/q/1d5a97a9-8c38-4758-b56f-8d0a5a3d92a4/ “after the global financial crisis, some people thought it represented an existential threat, we swung into action and we were able to invest $650,000,000 a week on average for fifteen weeks between Lehman's September 15 bankruptcy and the end of the year, that's $10,000,000,000” — Wharton School Mon, 02 May 2022 13:42:01 +0000 crisis investing