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” Im not stating go out,” he stated. “I believe that running out the marketplace is pretty harmful today, and I think it would be an error to raise money.” But more reputable stocks can protect investors from huge losses if the environment changes.
Though stocks have actually been soaring, Marks cautioned that we may be nearing completion of the bull cycle.
” We have a trade fight with China, its probably going to get solved, but it may go off the rails,” he stated. “And if it goes off the rails, it has really major repercussions for the world economy.”.
Defense is the name of the video game for a couple of reasons.
Marks likewise pointed to the trade war with China as another factor for financiers to tread carefully.
Investors need to think about taking a stake in energies, and reducing their investments in more volatile tech stocks, he said.
” Defense is more vital than offense” today, stated Marks, the author of “Mastering the Market Cycle: Getting the Odds on Your Side.”.
” Markets Now” streams live from the New York Stock Exchange every Wednesday at 12:45 p.m. ET. Hosted by CNNMoneys business reporters, the 15-minute program features incisive commentary from experts.
” Im not saying get out,” he stated. More reliable stocks can safeguard financiers from huge losses if the climate changes.
Thats what Howard Marks, co-chairman of Oaktree Capital, informed CNNMoney editor-at-large Richard Quest on “Markets Now” on Wednesday.
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Its time for financiers to begin making more secure bets.