Robert Redford

LTCM panic: "Now go back to your desk and do your job"

During the 1998 Long-Term Capital Management collapse, a young Oaktree portfolio manager told Marks everything was melting down. Marks heard him out, then sent him back to work. His point: a battle hero isn't unafraid, he acts despite the fear.

“And especially with Long-Term going under, one of the skilled portfolio managers, young portfolio managers at Oaktree came to me. He says, I think this is it. I think we're melting down. It's all over. And I said, well, tell me your concerns. And he laid out his concerns. And I said, okay, I understand it. Now go back to your desk and do your job. You know, a battle hero is not somebody who's unafraid. It's somebody who's afraid but does it anyway.”