What Howard Marks thinks about infrastructure
Co-founder and co-chairman of Oaktree Capital Management; author of the Oaktree memos.
Howard Marks did not write this page.
We collected these quotes from things they published elsewhere, and every quote links to where it was said. They have no account here and have not endorsed this site. Quotes are word for word; the short line under each one is our own restatement, not their wording. Their own site. Is this you? Claim it or ask us to remove it. Or tell us what is wrong here.
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1 dated position, 2025, in their own words. Our reading of what Howard Marks has said — not written or endorsed by them.
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Their wordsThere’s a consistent history of transformational technologies generating excessive enthusiasm and investment, resulting in more infrastructure than is needed and asset prices that prove to have been too high. The excesses accelerate the adoption of the technology in a way that wouldn’t occur in their absence.