If You Believe in It, Stick With It Just Like Howard Marks

An image of a pair of glasses on a newspaper Credit: Shutterstock photo

It's safe to say that Howard Marks ( Trades , Portfolio ), founder of Oaktree Capital, is not someone who follows the herd when it comes to investing. He strongly believes in going against the grain and stresses that investors should not concern themselves with what everyone else is doing in the market. If you feel uncomfortable about your latest investment choices, then you must be doing something right, according to Marks.

In order to be successful in the market, Marks focuses on micro and macro views. He believes investors should adjust their convictions as the environment around them changes, but always be sure to stick with your idea and always be right. Lastly, always make sure to make dealing with risk a priority.

Marks is also known for writing memos and sending them out to Oaktree clients in which his ideas on investing are outlined. As a writer and living in Los Angeles, California, it's not a surprise Marks invested in Tribune Publishing Co ( TPUB ).

Although the company is based in Chicago, it runs a subsidary of the Los Angeles Times titled Times Community News. At the end of October, there was buzz about Tribune thinking of buying the Chicago Sun-Times, which would ultimately make Tribune Publishing have a stronger presence in the community.

The company's stock price is currently at $19.30, which is even lower than it was in August when Forbes said the stock was undervalued and should be at $33.75 per share instead.

This chart shows price of stock

Marks recently added 13 news stocks to his profile, which equals a grand total of 78 stocks altogether, value totals to $6.036 million.

This chart shows total holding history

Oaktree tends to lean more toward inefficient companies and heavily invests in debt, preferred stocks and convertible bonds.

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This article first appeared on GuruFocus .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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