> ## Content Index > Fetch the complete content index at: https://microcapclub.com/llms.txt > Use this file to discover other available public pages before exploring further. # Club Conversation with Howard Marks, Oaktree’s Quiet Legend - URL: https://microcapclub.com/club-conversation-with-howard-marks-oaktrees-quiet-legend/ - Published: 2026-01-05T11:03:29.000Z - Updated: 2026-01-05T11:03:29.000Z - Description: You can listen/watch this conversation on Spotify, Apple Podcast, and YouTube. - Author: David Barbato - Tags: Interview In this conversation, Howard Marks shares his insights on investment strategies, the nature of risk, and the impact of market cycles. He discusses the origin of his company, Oak Tree, and elaborates on the concept of risk, emphasizing that it is subjective and tied to the possibility of undesirable outcomes. Marks also explores the upside of bubbles in technology, the implications of Brexit on the UK economy, and the current state of private credit. He provides advice on portfolio structuring, the importance of incentives in organizations, and personal reflections on success and happiness. You can listen/watch this conversation on [Spotify](https://open.spotify.com/episode/12evOFaXGvIeRsYqj24Aug?si=PKWGvn8CSO2NMvTU1%5F-ONw&ref=microcapclub.com), [Apple Podcast](https://podcasts.apple.com/us/podcast/microcapclub/id1765974269?i=1000743767366&ref=microcapclub.com), and YouTube below: ✉️ Share your feedback - david@microcapclub.com ✉️ David’s X (Twitter) - [https://x.com/Valuehunte](https://www.youtube.com/redirect?event=video%5Fdescription&redir%5Ftoken=QUFFLUhqbEFiUjJ4R0VxNFJYNld3LVNxVlc2UGk2UVotZ3xBQ3Jtc0trZnhDQUhOWk1JOWx6TlBlWWNqX1pVRHZrSXh4MHU1SkFyUTZWaVhORE0ydlA1M0ZYZmRuaXpCcWlndzdFR0NJSmdUdnJFSnV3YnNWdmpmd05OU3B4QXpPb3lHQ2dkcE96OE9qRnBDZlI3N1l2eWdwYw&q=https%3A%2F%2Fx.com%2FValuehunte&v=v%5FMcF4jVOyI&ref=microcapclub.com) Join MicroCapClub and unlock the ability to listen and participate live in these conversations. #### Interact and learn with 250+ of the best microcap investors on the planet: [Join Us](https://microcapclub.com/join-now) MicroCapClub is an exclusive forum for experienced microcap investors to share and discuss microcap companies (sub $1 billion market cap) trading on global markets. Since 2011, our members have profiled 1400+ microcap companies, 300+ have turned into multi-baggers. Investors can join our community by applying to become a member or subscribing to gain instant access. For more information, visit