The Minutes of Howard Marks on defaults https://minutesof.com/howard-marks/on/defaults/ Everything Howard Marks has said on defaults: 3 verbatim quotes from March 2026, each with a timestamp and a link to the recording it came from. en Sun, 30 Aug 2026 16:22:28 +0000 Marks says defaults have not yet revealed who made bad loans but expects that to come. https://minutesof.com/q/34886382-f9f1-4554-a456-249de954c7d6/ https://minutesof.com/q/34886382-f9f1-4554-a456-249de954c7d6/ “We actually haven't had many defaults yet, so we haven't had a chance yet to see who made bad loans. That's coming too. But I think that we were reserved in 2025.” — Oaktree Tue, 24 Mar 2026 14:08:16 +0000 defaults Marks notes the global financial crisis produced only one year of elevated defaults instead of the normal two https://minutesof.com/q/aaf02ed8-7b3e-4d61-994d-eff0b2726855/ https://minutesof.com/q/aaf02ed8-7b3e-4d61-994d-eff0b2726855/ “we've had seventeen years of low defaults, and the actions of the Fed made the global financial crisis, which was probably the most destructive environment I've ever lived through, have only one year of elevated defaults on high yield bonds rather than the normal two.” — Bloomberg Television Wed, 18 Mar 2026 17:49:13 +0000 defaults Marks notes the global financial crisis had only one year of elevated high yield defaults versus the normal tw https://minutesof.com/q/0435e107-124a-43c6-9978-d5b620c03004/ https://minutesof.com/q/0435e107-124a-43c6-9978-d5b620c03004/ “the global financial crisis, which was probably the most destructive environment I've ever lived through, have only one year of elevated defaults on high yield bonds rather than the normal two.” — Bloomberg Television Wed, 18 Mar 2026 17:49:13 +0000 defaults