Thats what Howard Marks, co-chairman of Oaktree Capital, told CNNMoney editor-at-large Richard Quest on “Markets Now” on Wednesday.
” Defense is more crucial than offense” right now, stated Marks, the author of “Mastering the marketplace Cycle: Getting the Odds on Your Side.”.
Investors must consider taking a stake in energies, and reducing their investments in more unstable tech stocks, he stated.
” We have a trade battle with China, its most likely going to get resolved, but it may go off the rails,” he said. “And if it goes off the rails, it has really serious effects for the world economy.”.
You can enjoy “Markets Now” at CNNMoney.com/ MarketsNow from your desk or on your phone or tablet. If you cant catch the program live, take a look at highlights online and through the marketplaces Now newsletter, provided to your inbox every afternoon.
Though stocks have been skyrocketing, Marks warned that we might be nearing completion of the bull cycle.
Its time for financiers to begin making safer bets.
” Im not stating get out,” he said. More trustworthy stocks can protect financiers from big losses if the climate changes.
” Markets Now” streams live from the New York Stock Exchange every Wednesday at 12:45 p.m. ET. Hosted by CNNMoneys company correspondents, the 15-minute program features incisive commentary from experts.
CNNMoneys “Markets Now” streams live from the NYSE every Wednesday at 12:45 p.m. ET.
Defense is the name of the game for a couple of factors.
” Im not saying go out,” he stated. “I think that running out the marketplace is quite harmful today, and I think it would be a mistake to raise money.” But more reliable stocks can safeguard financiers from big losses if the climate modifications.
Marks likewise pointed to the trade war with China as another factor for investors to tread thoroughly.