The Rewind: Lines in the Sand
Howard reflects on this memo (https://www.oaktreecapital.com/docs/default-source/memos/lines-in-the-sand.pdf) originally published on April 18, 2017. Following up on his classic memo You Can’t Eat IRR (https://www.oaktreecapital.com/docs/default-source/memos/2006-07-12-you-cant-eat-irr.pdf), he discusses why financial…
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