Former analyst, journalist and storage bon vivant. Now working @VAST_Data who do not approve of me here. @DeepStorage@mastodon.social
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Articles by Howard Marks
Oversold Conditions For Brunswick (BC)
Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which measures momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30. In trading on Monday, shares of Brunswick Corp.
Natural Resource Partners Breaks Above 200-Day Moving Average - Bullish for NRP
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Shall We Repeal the Laws of Economics – Part III
In September 2024 and June 2025, I wrote memos that were critical of governments’ attempts to override the laws of economics, based on my conviction that trying to do so is likely to prove ineffective and potentially harmful. Economies are naturally functioning organisms, and trying to steer them will distort their functioning and, usually, worsen the overall result.
Noteworthy ETF Outflows: XLRE, AMT, VMRK, VTR
September 18, 2026 — 10:56 am EDT Written by BNK Invest for BNK Invest Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the State Street Real Estate Select Sector SPDR ETF (Symbol: XLRE) where we have detected an approximate $135.3 million dollar outflow -- that's a 1.7% decrease week over week (from 187,050,000 to 183,900,000).
Snatch This Bargain Even Cheaper Than Director Thomas Did
There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on September 8, Northrim BanCorp Inc's Director, Linda C. Thomas, invested $31,440.00 into 1,200 shares of NRIM, for a cost per share of $26.20.
VT, NVDA, AAPL, MSFT: ETF Inflow Alert
September 08, 2026 — 10:56 am EDT Written by BNK Invest for BNK Invest Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Vanguard Total World Stock ETF (Symbol: VT) where we have detected an approximate $981.8 million dollar inflow -- that's a 1.2% increase week over week in outstanding units (from 504,204,227 to 510,274,774).
Cash Dividend On The Way From Great-West Lifeco's Preferred Shares, Series P
August 31, 2026 — 01:34 pm EDT Written by BNK Invest for BNK Invest On 9/1/26, Great-West Lifeco Inc's Non-Cumulative First Preferred Shares, Series P (TSX: GWO-PRP.TO) will trade ex-dividend, for its quarterly dividend of $0.3375, payable on 9/29/26. As a percentage of GWO.PRP's recent share price of $24.86, this dividend works out to approximately 1.36%, so look for shares of GWO.PRP to trade 1.36% lower — all else being equal — when GWO.PRP shares open for trading on 9/1/26.
Apollo Global Management About To Put More Money In Your Pocket (APOS)
Looking at the universe of stocks we cover at Dividend Channel, on 9/1/26, Apollo Global Management Inc 7.625% Fixed-rate R (Symbol: APOS) will trade ex-dividend, for its quarterly dividend of $0.4766, payable on 9/15/26. As a percentage of APOS's recent stock price of $25.58, this dividend works out to approximately 1.86%, so look for shares of Apollo Global Management Inc 7.625% Fixed-rate R to trade 1.86% lower — all else being equal — when APOS shares open for trading on 9/1/26.
Interesting DVN Put And Call Options For October 9th
Investors in Devon Energy Corp. (Symbol: DVN) saw new options become available today, for the October 9th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the DVN options chain for the new October 9th contracts and identified one put and one call contract of particular interest. The put contract at the $43.00 strike price has a current bid of 30 cents.
Notable ETF Outflow Detected - ILF, VALE, ITUB, PBR.A
August 24, 2026 — 11:06 am EDT Written by BNK Invest for BNK Invest Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Latin America 40 ETF (Symbol: ILF) where we have detected an approximate $173.4 million dollar outflow -- that's a 4.4% decrease week over week (from 112,500,000 to 107,500,000).
See Which Recent 13F Filers Hold IJH
At Holdings Channel, we have reviewed the latest batch of the 53 most recent 13F filings for the 06/30/2026 reporting period, and noticed that iShares Trust - Core S&P Mid-Cap Exchange Traded Fund (Symbol: IJH) was held by 31 of these funds. When hedge fund managers appear to be thinking alike, we find it is a good idea to take a closer look.
SPDR Gold Shares (GLD) Shares Cross Above 200 DMA
August 19, 2026 — 04:18 pm EDT Written by BNK Invest for BNK Invest In trading on Wednesday, shares of the SPDR Gold Shares ETF (Symbol: GLD) crossed above their 200 day moving average of $412.74, changing hands as high as $413.36 per share. SPDR Gold Shares shares are currently trading up about 3.7% on the day.
Upcoming Dividend Run For QCOM?
This morning a "Potential Dividend Run Alert" went out for Qualcomm Inc (NASD: QCOM), at our DividendChannel.com Dividend Alerts service (a free email alerts feature). Let's look at the situation in greater detail, shall we? First of all, what is a "Dividend Run" anyway? This is an interesting concept which we first learned about at a past ValueForum conference. And to best explain the concept, we need to start with the expected behavior of a stock on its ex-dividend date.
Interesting BSX Put And Call Options For October 2nd
Investors in Boston Scientific Corp. (Symbol: BSX) saw new options become available today, for the October 2nd expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the BSX options chain for the new October 2nd contracts and identified one put and one call contract of particular interest. The put contract at the $50.00 strike price has a current bid of 20 cents.
MDU Crosses Above Key Moving Average Level
Skip to main content MDU Crosses Above Key Moving Average Level August 06, 2026 — 05:46 pm EDT Written by BNK Invest for BNK Invest-> In trading on Thursday, shares of MDU Resources Group Inc (Symbol: MDU) crossed above their 200 day moving average of $20.77, changing hands as high as $21.01 per share. MDU Resources Group Inc shares are currently trading up about 4.5% on the day.
August 17th Options Now Available For Intel (INTC)
Investors in Intel Corp (Symbol: INTC) saw new options become available today, for the August 17th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the INTC options chain for the new August 17th contracts and identified one put and one call contract of particular interest. The put contract at the $85.00 strike price has a current bid of $4.15.
Upcoming Dividend Run For FMBH?
This morning a "Potential Dividend Run Alert" went out for First Mid Bancshares Inc (NASD: FMBH), at our DividendChannel.com Dividend Alerts service (a free email alerts feature). Let's look at the situation in greater detail, shall we? First of all, what is a "Dividend Run" anyway? This is an interesting concept which we first learned about at a past ValueForum conference. And to best explain the concept, we need to start with the expected behavior of a stock on its ex-dividend date.
Algonquin Power & Utilities Breaks Above 200-Day Moving Average - Bullish for AQN
July 24, 2026 — 03:52 pm EDT Written by BNK Invest for BNK Invest-> In trading on Friday, shares of Algonquin Power & Utilities Corp (TSX: AQN.TO) crossed above their 200 day moving average of $8.51, changing hands as high as $8.55 per share. Algonquin Power & Utilities Corp shares are currently trading up about 1.1% on the day.
Noteworthy Friday Option Activity: INTC, GOOG, FRMI
Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Intel Corp (Symbol: INTC), where a total volume of 1.3 million contracts has been traded thus far today, a contract volume which is representative of approximately 130.8 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 122% of INTC's average daily trading volume over the past month, of 107.2 million shares.
Noteworthy ETF Inflows: IXN, CRM, DELL, NOW
Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Global Tech ETF (Symbol: IXN) where we have detected an approximate $212.7 million dollar inflow -- that's a 2.4% increase week over week in outstanding units (from 64,900,000 to 66,450,000).
Cash Dividend On The Way From Bny Mellon Municipal Bond Infrastructure Fund (DMB)
Looking at the universe of stocks we cover at Dividend Channel, on 7/17/26, Bny Mellon Municipal Bond Infrastructure Fund Inc (Symbol: DMB) will trade ex-dividend, for its monthly dividend of $0.05, payable on 8/3/26. As a percentage of DMB's recent stock price of $11.01, this dividend works out to approximately 0.45%.
Upcoming Dividend Run For KARO?
This morning a "Potential Dividend Run Alert" went out for Karooooo Ltd (NASD: KARO), at our DividendChannel.com Dividend Alerts service (a free email alerts feature). Let's look at the situation in greater detail, shall we? First of all, what is a "Dividend Run" anyway? This is an interesting concept which we first learned about at a past ValueForum conference. And to best explain the concept, we need to start with the expected behavior of a stock on its ex-dividend date.
Noteworthy ETF Inflows: PVAL, ALL, LUV, FCX
Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Putnam Focused Large Cap Value ETF (Symbol: PVAL) where we have detected an approximate $205.5 million dollar inflow -- that's a 1.8% increase week over week in outstanding units (from 221,679,000 to 225,679,000).
Notable Two Hundred Day Moving Average Cross - FLGR
Skip to main content Notable Two Hundred Day Moving Average Cross - FLGR June 10, 2026 — 04:02 pm EDT Written by BNK Invest for BNK Invest-> In trading on Wednesday, shares of the Franklin FTSE Germany ETF (Symbol: FLGR) crossed below their 200 day moving average of $33.09, changing hands as low as $32.65 per share. Franklin FTSE Germany shares are currently trading off about 1.5% on the day.
DigitalBridge Group's Series J Preferred Stock Shares Cross 11.5% Yield Mark
In trading on Friday, shares of DigitalBridge Group Inc's 7.125% Series J Cumulative Redeemable Perpetual Preferred Stock (Symbol: DBRG.PRJ) were yielding above the 11.5% mark based on its quarterly dividend (annualized to $1.7812), with shares changing hands as low as $15.05 on the day. This compares to an average yield of 8.03% in the "Real Estate" preferred stock category, according to Preferred Stock Channel.
QBTZ Crosses Critical Technical Indicator
In the case of Defiance Daily Target 2X Short QBTS, the RSI reading has hit 25.2 — by comparison, the RSI reading for the S&P 500 is currently 72.5. A bullish investor could look at QBTZ's 25.2 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.
Noteworthy Tuesday Option Activity: WRBY, WULF, CMCO
Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Warby Parker Inc (Symbol: WRBY), where a total volume of 23,646 contracts has been traded thus far today, a contract volume which is representative of approximately 2.4 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 81.2% of WRBY's average daily trading volume over the past month, of 2.9 million shares.
CGW, AWK, XYL, WTRG: Large Outflows Detected at ETF
Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Invesco S&P Global Water Index ETF (Symbol: CGW) where we have detected an approximate $125.4 million dollar outflow -- that's a 10.7% decrease week over week (from 17,880,000 to 15,960,000). Among the largest underlying components of CGW, in trading today American Water Works Co, Inc.
Mr. Nice - Příběh drogového krále
O knize Mr. Nice - Příběh drogového krále Kniha Mr. Nice je pravdivým příběhem známého britského pašeráka drog, hudebníka, herce a spisovatele Howarda Markse. Poutavě líčí jeho životní peripetie, zákulisí obchodu s drogami, poměry v amerických věznicích a další ožehavá témata. Howard Marks se narodil v r. 1945 v Kenfig Hill, welšské hornické vísce nedaleko Bridgendu. Prošel oxfordskou univerzitou a britskou tajnou službou a stal se „nejvzdělanějším drogovým magnátem všech dob“ (Daily Mirror). V r.
Ex-Div Reminder for KNOT Offshore Partners (KNOP)
Looking at the universe of stocks we cover at Dividend Channel, on 4/27/26, KNOT Offshore Partners LP (Symbol: KNOP) will trade ex-dividend, for its quarterly dividend of $0.05, payable on 5/14/26. As a percentage of KNOP's recent stock price of $10.36, this dividend works out to approximately 0.48%.
Noteworthy Thursday Option Activity: OKLO, BA, APLD
Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Oklo Inc (Symbol: OKLO), where a total of 166,569 contracts have traded so far, representing approximately 16.7 million underlying shares. That amounts to about 148.3% of OKLO's average daily trading volume over the past month of 11.2 million shares.
McKesson is Now Oversold (MCK)
In trading on Wednesday, shares of McKesson Corp (Symbol: MCK) entered into oversold territory, hitting an RSI reading of 27.7, after changing hands as low as $821.99 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 70.1. A bullish investor could look at MCK's 27.7 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.
Notable Tuesday Option Activity: TSCO, WDC, DELL
Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Tractor Supply Co. (Symbol: TSCO), where a total volume of 27,596 contracts has been traded thus far today, a contract volume which is representative of approximately 2.8 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 43.4% of TSCO's average daily trading volume over the past month, of 6.4 million shares.
Crocs Reaches Analyst Target Price
In recent trading, shares of Crocs Inc (Symbol: CROX) have crossed above the average analyst 12-month target price of $110.00, changing hands for $111.19/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, or, re-adjust their target price to a higher level.
Analysts Forecast 13% Upside For The Holdings of XLSR
Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the SPDR SSGA US Sector Rotation ETF (Symbol: XLSR), we found that the implied analyst target price for the ETF based upon its underlying holdings is $69.36 per unit.
What’s Going on in Private Credit?
The general field called “credit” has seen massive innovation over the course of my career. Its popularity has increased steadily, and its scale and role in the world of finance have multiplied. The other day, an Oaktree colleague asked me about the developments that brought the credit sector to where it is today.
Silvercrest Asset Management Group Enters Oversold Territory
The DividendRank formula at Dividend Channel ranks a coverage universe of thousands of dividend stocks, according to a proprietary formula designed to identify those stocks that combine two important characteristics — strong fundamentals and a valuation that looks inexpensive.
XMHQ Crowded With Sellers
In the case of Invesco S&P MidCap Quality, the RSI reading has hit 29.1 — by comparison, the RSI reading for the S&P 500 is currently 33.9. A bullish investor could look at XMHQ's 29.1 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.
December 18th Options Now Available For Dover (DOV)
Investors in Dover Corp (Symbol: DOV) saw new options become available today, for the December 18th expiration. One of the key data points that goes into the price an option buyer is willing to pay, is the time value, so with 284 days until expiration the newly available contracts represent a potential opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration.
Legendary investor Howard Marks was skeptical about AI. What it said to him about Warren Buffett and Charlie Munger left him shook
Legendary billionaire investor Howard Marks, cofounder and co-chairman of Oaktree Capital Management, has spent decades navigating financial manias, sea changes in interest rates, and the shifting pendulums of investor psychology. But his latest encounter with artificial intelligence left him experiencing a profound level of awe—and a deep existential realization about his own storied career.
Howard Marks: AI Hurtles Ahead
by Howard Marks, Co-Chairman, Oaktree Capital Management When I was preparing to write my December memo about artificial intelligence, Is It a Bubble?, I gained a great deal from speaking with some interesting techies in their thirties and forties. Itās stimulating to explore fresh territory and an absolute requirement for staying current as an investor. Itās one of the most enjoyable parts of my job. I recently returned to those people to follow up on the December memo.
AI Hurtles Ahead
When I was preparing to write my December memo about artificial intelligence, Is It a Bubble?, I gained a great deal from speaking with some interesting techies in their thirties and forties. It’s stimulating to explore fresh territory and an absolute requirement for staying current as an investor. It’s one of the most enjoyable parts of my job. I recently returned to those people to follow up on the December memo.
The challenge of pricing AI’s impact
The writer is co-founder and co-chair of Oaktree Capital Management and author of ‘Mastering the Market Cycle: Getting the Odds on Your...
November 20th Options Now Available For CrowdStrike Holdings (CRWD)
Investors in CrowdStrike Holdings Inc (Symbol: CRWD) saw new options become available today, for the November 20th expiration. One of the key inputs that goes into the price an option buyer is willing to pay, is the time value, so with 270 days until expiration the newly available contracts represent a potential opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration.
Rush Street Interactive (RSI) Shares Cross Above 200 DMA
In trading on Wednesday, shares of Rush Street Interactive Inc (Symbol: RSI) crossed above their 200 day moving average of $17.37, changing hands as high as $20.40 per share. Rush Street Interactive Inc shares are currently trading up about 7% on the day.
This Stock Has A 19.83% Yield And Sells For Less Than Book
Horizon Technology Finance Corporation (Symbol: HRZN) has been named as a Top 10 dividend-paying financial stock, according to Dividend Channel , which published its most recentreport. The report noted that among shares of financial companies, HRZN displayed both attractive valuation metrics and strong profitability metrics.
Noteworthy Thursday Option Activity: BA, EXPE, AR
Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Boeing Co. (Symbol: BA), where a total of 63,211 contracts have traded so far, representing approximately 6.3 million underlying shares. That amounts to about 78% of BA's average daily trading volume over the past month of 8.1 million shares.
RSI Alert: Teradata (TDC) Now Oversold
Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which measures momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.
COPX January 2028 Options Begin Trading
Investors in Global X Funds - Global X Copper Miners ETF (Symbol: COPX) saw new options begin trading today, for the January 2028 expiration. One of the key inputs that goes into the price an option buyer is willing to pay, is the time value, so with 737 days until expiration the newly trading contracts represent a potential opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration.
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Howard Marks é um dos nomes mais respeitados do mercado financeiro global. Sócio-fundador e vice-presidente da Oaktree Capital Management, ele construiu uma reputação sólida como investidor especializado em ativos estressados, controle de risco e leitura de ciclos econômicos.
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