Gabelli Funds announced the recipient of the Graham & Dodd, Murray, Greenwald Prize for Value Investing at its thirtieth-first client conference on Friday, May 20 in New York. He is Howard S. Marks, CFA, Chairman and Co-Founder of Oaktree Capital.
Bruce C.N. Greenwald, who is the academic Director of the Heilbrunn Graham & Dodd Research Center at The Columbia University Graduate School of Business, and who leads the Gabelli Prize selection committee said, “Howard’s contributions to the field of Value Investing from the perspective of an owner of a company’s debt is immeasurable.”
Howard S. Marks, CFA is a Principal, Chairman and co-founder of Oaktree Capital Group, LLC since 1995. Mr. Marks is a pioneer in the management of high yield bonds and convertible securities. Prior to Oaktree, he was the Chief Investment Officer at The TCW Group, Inc. and the President of TCW Asset Management Company from 1985 to 1995. He began his career as an Equity Research Analyst at CitiCorp in 1969, becoming its Director of Research. Over the 36-plus year span of his investment management career, he developed the fundamental investment philosophy which governs all of Oaktree’s activities.
Mr. Marks chaired the Investment Board of University of Pennsylvania from 2000 to 2010 where he serves as a Trustee. He is the author of “The Most Important Thing” published in May 2011 by Columbia University Press. He holds an M.B.A. in Accounting and Marketing from the Graduate School of Business of the University of Chicago, where he received the George Hay Brown Prize and a B.S.Ec., cum laude, from The Wharton School at the University of Pennsylvania with a major in Finance.
Gabelli created the annual prize to honor an individual, student, or practitioner who has made an outstanding contribution to enlarge the field of value investing. Known as the “Gabelli Prize”, the company funded the prize with $1 million and presents the award at its annual client meetings.
GAMCO Investors, Inc. (NYSE:GBL), through its subsidiaries, manages assets of private advisory accounts (GAMCO), mutual funds and closed-end funds (Gabelli Funds, LLC) and is known for its Private Market Value with a Catalyst™ style of investment. As of March 31, 2016, GAMCO Investors, Inc. had $38.7 billion in assets under management.
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