If a key to personal happiness is low expectations, then a key to investing may be realistic expectations. Howard Marks is the co-founder and co-chairman of Oaktree Capital Management. Motley Fool Director of Small Cap Research Bill Mann caught up with Marks to discuss: – Why higher interest rates created a “Sea Change” for investors – China’s economic miracle, and its impact on inflation – Lessons from the era of easy money – What life insurance companies can teach investors about risk
To read Howard Marks' latest memo, click here: Host: Bill Mann Guest: Howard Marks Producer: Ricky Mulvey Engineers: Rick Engdahl, Annie Franks