In his latest memo, Howard Marks discusses the significance of the Silicon Valley Bank collapse. He argues that it likely doesn’t portend a wave of banking failures but may amplify preexisting wariness among investors and lenders, leading to further credit tightening and additional pain across a range of industries and sectors.

The memo is read by LJ Ganser.

You can read the memo here (https://www.oaktreecapital.com/insights/memo/lessons-from-silicon-valley-bank).