Bloomberg Opinion columnist Barry Ritholtz interviews the legendary Howard Marks, co-founder and co-chairman of Oaktree Capital Management. The firm was formed in 1995 by a group of individuals who had been investing together since the mid-1980s in high-yield bonds, convertible securities, distressed debt, real estate, control investments and listed equities. Marks is celebrated for the memos he created in 1990. His newest book, "Mastering the Market Cycle: Getting the Odds On Your Side," was published in October.