In a recent LinkedIn post, Nikhil Kamath discusses a compelling conversation with legendary investor Howard Marks, the co-founder of Oaktree Capital Management. Kamath shares Marks’ evolving perspective on artificial intelligence and his long-standing investment strategies, as detailed in a recent discussion.
Marks’ Evolving Stance on AI
Kamath highlights that Marks, known for his decades of experience and meticulous analysis, has recently reconsidered his views on artificial intelligence following a conversation with Claude. This shift in perspective from a seasoned investor like Marks is particularly noteworthy.
“Howard Marks runs Oaktree, a $120 billion+ firm built on distressed debt, has been writing the memos Warren Buffett opens first for over thirty years, and just changed his mind on AI after a single conversation with Claude.”
As Nikhil Kamath points out, Marks’ willingness to re-evaluate his position on a transformative technology like AI, even after decades of established thought, underscores the dynamic nature of the investment landscape. Kamath frames this as a significant development, given Marks’ track record and influence in the financial world.
A Career Built on Distressed Debt
Kamath also touches upon Marks’ foundational investment philosophy, particularly his consistent focus on debt over equity throughout his career. This strategic choice has been central to Oaktree’s success and Marks’ reputation.
“we got into where the $10 bill nobody has picked up is hiding right now, why he picked debt over equity for an entire career, and why the herd is almost always wrong.”
According to Nikhil Kamath, Marks’ approach, as discussed in their conversation, emphasizes identifying overlooked opportunities and understanding market psychology. Kamath notes that Marks’ consistent adherence to certain principles, while remaining open to new information, is a key takeaway from their exchange.
The Wisdom of Contrarianism
Kamath emphasizes Marks’ long-held belief in the importance of going against the prevailing market sentiment. This contrarian approach, as highlighted by Kamath, is a recurring theme in Marks’ investment philosophy and his widely respected memos.
“The herd is almost always wrong,” Kamath quotes from his discussion with Marks, underscoring a core tenet of the Oaktree founder’s strategy. This principle suggests that true investment opportunities often lie where others are not looking or are actively avoiding.
Looking Ahead
Kamath concludes by mentioning that the full details of this insightful conversation will be available soon, promising further exploration of the investment strategies and market observations shared by Howard Marks. This upcoming release is anticipated to offer deeper insights into Marks’ perspectives on current market conditions and his seasoned advice for investors.
📝 About This Content
This article is based on insights shared by Nikhil Kamath on LinkedIn.
📅 Originally posted on May 1, 2026 | View original post on LinkedIn →