Marks also pointed to the trade war with China as another reason for financiers to tread thoroughly.
Investors should consider taking a stake in energies, and reducing their financial investments in more unpredictable tech stocks, he said.
” Defense is more crucial than offense” today, stated Marks, the author of “Mastering the marketplace Cycle: Getting the Odds on Your Side.”.
” Im not saying go out,” he said. “I think that being out of the marketplace is pretty unsafe today, and I think it would be an error to raise money.” But more reliable stocks can secure investors from big losses if the climate changes.
Its time for financiers to begin making more secure bets.
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” We have a trade battle with China, its most likely going to get resolved, however it might go off the rails,” he stated. “And if it goes off the rails, it has very severe effects for the world economy.”.
Thats what Howard Marks, co-chairman of Oaktree Capital, told CNNMoney editor-at-large Richard Quest on “Markets Now” on Wednesday.
Stocks have actually been skyrocketing, Marks alerted that we may be nearing the end of the bull cycle.
Defense is the name of the video game for a few reasons.
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” Im not saying get out,” he stated. More reliable stocks can protect investors from big losses if the climate changes.