Behind the Memo: I Beg To Differ

Episode notes

In the latest episode of Behind the Memo , Howard discusses his recent memo, I Beg to Differ . He explains why investors seeking to outperform need to think differently, be exceptional, and be prepared to look wrong - even when they’re right. You can listen to I Beg To Differ in the prior episode or read it here (

• What's Going on in Private Credit?60 / 100
• Reflections on Oaktree Conference 2026 with Howard Marks56 / 100
• AI Hurtles Ahead47 / 100
• Is It a Bubble?
• Cockroaches in the Coal Mine