Howard Marks

Howard Stanley Marks, an American investor and writer, was born on April 23, 1946. He is known for being the co-founder and co-chairman of Oaktree Capital Management, a prominent investor in distressed securities globally.

Howard Marks co-founded the asset management firm Oaktree Capital Management in 1965.

In 1967, Howard S. Marks graduated from the University. He later became a prominent figure in the field of finance and co-founded Oaktree Capital Management.

From 1969 until 1978, Howard Marks worked at Citicorp, starting as an equity research analyst and later becoming the Director of Research.

In 1970, Howard Marks was persuaded to assist Graham Plinston in drug trafficking, leading to a partnership with Mohammed Durrani and others to sell hashish on a large scale in London.

By 1972, Howard Marks was making significant profits from his drug trafficking enterprise, with each shipment earning him £50,000.

Howard Marks was arrested by Dutch police in 1973 but managed to skip bail in April 1974, leading to a high-profile case in the British press.

In October 1974, Howard Marks returned to England in secret after living in Italy for three months following his escape from Dutch authorities.

A 500 kg (1,100 lb) drug deal was executed at John F. Kennedy International Airport on July 4, 1975, involving connections of Howard Marks, including the yakuza and Don Brown's mob.

In 1976, Howard Marks set up a 1,000 kg (2,200 lb) drug deal between Ernie Combs and 'Lebanese Sam', earning himself £300,000 in the process.

In 1978, Howard Marks bought Donald Nice's passport to acquire a new identity after his previous alias was compromised in a police sting operation.

In 1980, Howard Marks married Judy Lane, with whom he had three children, after previously being in a relationship with Rosie Lewis.

With his keen eye for spotting opportunities and managing risks, Marks led Oaktree to thrive, managing assets worth over $100 billion.

Operation Eclectic was a joint effort by the DEA and Scotland Yard, along with other law enforcement agencies worldwide, to arrest individuals involved in Howard Marks' criminal activities. The operation led to arrests in multiple countries including Britain, Spain, the Philippines, Thailand, the Netherlands, Pakistan, Switzerland, the United States, and Canada.

In 1988, DEA agent Craig Lovato arrested Howard and Judy Marks and extradited them to the United States. This marked the end of Howard Marks' drug smuggling career as he decided to retire after the arrest of his friends and contacts.

Howard Marks and his wife were extradited to Florida in 1989 after being ordered by the Audiencia Nacional. Marks faced charges related to drug smuggling activities and was given the Miranda rights on the flight from Spain to the US.

In July 1990, Howard Marks' trial began in Florida where he initially planned to convince the jury of his innocence. However, due to testimonies from associates and family members, Marks changed his plea to guilty on racketeering charges and was sentenced to 25 years in jail.

In 1992, Howard Marks created the Howard S. Marks Terms Scholarship to provide renewable scholarships to undergraduates at the University of Pennsylvania.

In January 1995, Howard Marks was granted parole after being described as a model prisoner who helped others in prison. He was released in April 1995 after spending several years in jail.

The book 'Mr Nice' was published in 1997 by Secker and Warburg, written by Howard Marks. It is likely a biography or memoir of Howard Marks.

In the fall of 1999, Howard Marks wrote a memo where he identified a speculative bubble in the tech, telecommunications, and internet sectors, similar to past manias described in Edward Chancellor's book Devil Take the Hindmost. This prediction foreshadowed the dot-com crash.

Howard Marks warned clients in January 2000 about the overvaluation of internet-linked equities and speculative mania, leading to the burst of the dotcom bubble.

Marks published a memo in July 2007 titled 'It's All Good', warning investors about excessive optimism and the likelihood of a recession, which later led to the Global Financial Crisis.

Marks decided to buy distressed assets after the subprime mortgage crisis in 2008, making billions as the market recovered from the Global Financial Crisis.

Howard Marks was honored with the Alternative Investment Management Lifetime Achievement Award by Institutional Investor in 2009 for his leadership and impact in the financial industry.

In 2010, Howard Marks bought an oceanfront property in East Hampton for $30 million.

In 2011, Howard Marks authored the book 'The Most Important Thing Illuminated: Uncommon Sense for the Thoughtful Investor'. The book provides insights and advice for investors based on Marks' experience in finance.

In May 2012, Howard Marks and his wife purchased a duplex unit at 740 Park Avenue for $52.5 million.

A book written by Howard Marks in 2013, providing uncommon sense for thoughtful investors.

On January 25, 2015, it was revealed that Howard Marks had been diagnosed with inoperable colorectal cancer, a condition that eventually led to his passing on April 10, 2016, at the age of 70.

In 2016, Howard Marks contributed over $200,000 to the Hillary Victory Fund and similar organizations.

In 2017, Howard Marks purchased the house next door to his house in Beverly Hills for $9.7 million.

In 2018, Howard Marks published 'Mastering the Market Cycle: Getting the Odds on Your Side'. This book offers strategies and perspectives on navigating market cycles effectively.

In September 2019, Brookfield Asset Management acquired 61% of Oaktree for about $4.9 billion in cash and stock, with Howard Marks now sitting on Brookfield's board.

During the COVID-19 pandemic in 2020, Marks took a contrarian stance and bought assets when the market tanked, leading to significant gains as the S&P 500 rose over 90% since its lows.

In 2022, Howard Marks was ranked No. 1365 on the Forbes list of billionaires with a net worth of $2.2 billion. Marks is recognized for his success in the investment industry and his contributions to Oaktree Capital Management.

Billionaire Howard Marks suggests a unique approach to generate exceptional returns by analyzing the current emotional state of the market. He has a successful track record of achieving outstanding results throughout his career.