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Financiers must consider taking a stake in energies, and reducing their financial investments in more volatile tech stocks, he stated.
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” Defense is more important than offense” right now, said Marks, the author of “Mastering the Market Cycle: Getting the Odds on Your Side.”.
Thats what Howard Marks, co-chairman of Oaktree Capital, informed CNNMoney editor-at-large Richard Quest on “Markets Now” on Wednesday.
Marks likewise indicated the trade war with China as another factor for financiers to tread carefully.
” Im not saying get out,” he said. More dependable stocks can secure financiers from big losses if the climate changes.
” We have a trade fight with China, its most likely going to get resolved, but it may go off the rails,” he stated. “And if it goes off the rails, it has extremely serious effects for the world economy.”.
Its time for investors to begin making more secure bets.
Defense is the name of the game for a couple of reasons.
” Im not saying go out,” he said. “I believe that running out the market is quite dangerous today, and I believe it would be a mistake to raise money.” More reliable stocks can safeguard investors from huge losses if the environment changes.
Though stocks have been skyrocketing, Marks warned that we may be nearing the end of the bull cycle.