In the latest episode of Behind the Memo, Howard discusses his recent memo, On Bubble Watch, which revisits a subject he first wrote about 25 years ago. He delves into the investor psychology that underpins a market bubble, and assesses the danger of letting excitement and fear of missing out override risk aversion.

You can listen to or read the Memo here (https://www.oaktreecapital.com/insights/memo/on-bubble-watch).