We sit down with legendary investor Howard Marks of Oaktree Capital and his son Andrew who, while less-well-known, is also an incredibly accomplished investor in a very different arena: early-stage VC. The purpose of the conversation was to discuss their joint work together on Howard’s all-time most popular memo, “Something of Value”, which made the then-shocking argument that Value and Growth investing are not diametric opposites but rather two sides of the same investing coin. We of course dive deep into that, and also cover plenty of fun Oaktree and investing history, as well as Andrew’s favorite topic: selling (or not selling, as the case may be). This is not one to miss! If you want more Acquired, you can follow our public LP Show feed in the podcast player of your choice (including Spotify!): http://pod.link/acquiredlp Links: The Original “Something of Value” Memo: https://www.oaktreecapital.com/docs/default-source/memos/something-of-value.pdf Howard and Andrew on Oaktree’s “The Memo” podcast: https://www.oaktreecapital.com/insights/memo-podcast/the-rewind-something-of-value Sponsors: Thanks to Vanta for being our presenting sponsor for this special episode. Vanta is the leader in automated security compliance – making SOC 2, HIPAA, GDPR, and more a breeze for startups and organizations of all sizes. You might say they’re like the “AWS of security and compliance”! Everyone in the Acquired community can get 10% off using this link: https://bit.ly/acquiredvanta Thank you as well to Brex and to Tiny: https://bit.ly/acquiredbrex https://bit.ly/acquiredtiny Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.