November 20, 2025

Howard Marks highlights credit ‘carelessness’ but says issues are not systemic

IntelME Verdict

Risk Factor

TL;DR

Howard Marks of Oaktree Capital Management addresses recent credit market failures, highlighting issues with First Brands and Tricolor, emphasizing behavioral patterns over systemic flaws.

Analysis

Howard Marks' highlighting of credit market failures due to behavioral patterns poses a risk factor for investors in sub-investment grade debt markets. Understanding these issues can help finance professionals assess and manage risks associated with complacency and potential defaults during favorable economic conditions.

Source

CNBC↗