Though stocks have been skyrocketing, Marks alerted that we might be nearing completion of the bull cycle.
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Its time for financiers to start making much safer bets.
” Defense is more important than offense” right now, stated Marks, the author of “Mastering the marketplace Cycle: Getting the Odds on Your Side.”.
” Im not stating get out,” he stated. “I think that running out the market is quite hazardous today, and I believe it would be a mistake to raise cash.” However more trusted stocks can protect investors from big losses if the climate changes.
Defense is the name of the game for a couple of reasons.
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” We have a trade battle with China, its most likely going to get solved, however it may go off the rails,” he stated. “And if it goes off the rails, it has really major effects for the world economy.”.
Marks likewise pointed to the trade war with China as another reason for investors to tread carefully.
” Im not saying get out,” he said. More trustworthy stocks can safeguard financiers from huge losses if the environment changes.
Financiers must think about taking a stake in utilities, and reducing their financial investments in more unstable tech stocks, he said.
Thats what Howard Marks, co-chairman of Oaktree Capital, informed CNNMoney editor-at-large Richard Quest on “Markets Now” on Wednesday.