Marks likewise pointed to the trade war with China as another reason for investors to tread carefully.
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Investors must think about taking a stake in energies, and decreasing their investments in more volatile tech stocks, he said.
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Defense is the name of the game for a couple of reasons.
” Defense is more crucial than offense” right now, said Marks, the author of “Mastering the marketplace Cycle: Getting the Odds on Your Side.”.
Though stocks have been skyrocketing, Marks cautioned that we might be nearing completion of the bull cycle.
Thats what Howard Marks, co-chairman of Oaktree Capital, told CNNMoney editor-at-large Richard Quest on “Markets Now” on Wednesday.
Its time for financiers to begin making much safer bets.
” We have a trade fight with China, its probably going to get fixed, but it might go off the rails,” he stated. “And if it goes off the rails, it has really serious consequences for the world economy.”.
” Im not stating go out,” he stated. “I think that running out the marketplace is quite harmful today, and I believe it would be a mistake to raise cash.” More trustworthy stocks can secure investors from huge losses if the environment changes.
” Im not saying get out,” he stated. More trustworthy stocks can safeguard investors from big losses if the environment modifications.