Buffett Favorite Beats Expectations

Shares in Oaktree Capital Group (NYSE: OAK ) are up this week since the alternative assets company impressed analysts with solid second-quarter results. Known on Wall Street as the world's largest distressed-debt investor, the firm has a wide following thanks to Warren Buffett's stated admiration for its founder, Howard Marks. "When I see memos from Howard Marks in my mail," says Buffett, "they're the first thing I open and read."

While private equity firms are lucrative for the executives running the firms and sometimes to the funds' limited partners, they're still an untested product for the average retail investor. It's for this reason, as well as others that I noted in a three-part series earlier in the year, that I believe investors should tread carefully before investing in the industry.

Source: Motley Fool

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