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Howard Marks Says Don’t Let Emotions Cloud Judgment on War

Adam Haigh
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⚡ Quantum Brief
Oaktree Capital co-founder Howard Marks warned investors against emotional decision-making amid the Middle East conflict during a March 2026 speech at Sydney’s Australian Financial Review Business Summit. Marks emphasized uncertainty as the dominant factor, stating no one can predict the conflict’s duration, scale, or resolution, urging caution in financial exposure adjustments. Speaking via video call, he advised investors to prioritize rational analysis over reactive responses, framing geopolitical risks as inherently unpredictable. The remarks targeted institutional and retail investors alike, stressing discipline in portfolio management despite volatile global conditions tied to the conflict. His core message centered on humility in forecasting, highlighting the limits of knowledge when assessing war-related market impacts.
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Oaktree Capital Management LP co-founder Howard Marks said investors need to avoid letting their emotions run high when making decisions on exposure due to the Middle East conflict. “The main thing to keep in mind is how much we don’t know,” he told the Australian Financial Review Business Summit in Sydney on Tuesday via a video call. “Nobody knows how long this is going to last, how big it’s going to get or what the outcome is going to be.”

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Source: Bloomberg Markets

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