“Marks/Oaktree is one of the great distressed debt investors of the past 20-30 years and he says very humbly, “I don’t really know the future.” I might be right 80% of the time. I hope to be, but I might not. Also, he makes clear that TIMING was the KEY. He points out that of their funds invested post-crisis, they invested MOST of their tens of billions raised in the quarter after Lehman failed and a lot less since then.”, Mike Perry, former Chairman and CEO, IndyMac Bank