The 77-year-old Howard Marks, co-founder of the $172 billion investment firm Oaktree Capital Management, has been identified as having a treatable form of throat cancer and will undergo surgery and radiation therapy.

In a note to investors dated May 3, Marks stated, “I was recently diagnosed with a relatively common form of throat cancer.” The likelihood of a cure in my case (a cure, not remission) is projected to be between 95% and 999%. The treatment is rather regular.In 1995, Marks founded Oaktree alongside the group’s chief investment officer, Bruce Karsh, and three other individuals. It now manages money across credit, private equity, real assets, and listed shares, going beyond its roots in distressed debt.

Marks serves as Oaktree’s public face, traveling the world to meet with clients and establishing the firm’s macroeconomic outlook.

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He has established himself as a resolute contrarian and a well-respected analyst of market psychology. He is well-known for his well-received financial memoranda, which are sent to about 200,000 people, including Warren Buffett.

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