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” Markets Now” streams live from the New York Stock Exchange every Wednesday at 12:45 p.m. ET. Hosted by CNNMoneys business correspondents, the 15-minute program functions incisive commentary from professionals.
Its time for financiers to start making safer bets.
Stocks have been soaring, Marks cautioned that we may be nearing the end of the bull cycle.
” We have a trade battle with China, its most likely going to get solved, however it may go off the rails,” he said. “And if it goes off the rails, it has extremely severe repercussions for the world economy.”.
” Defense is more important than offense” today, said Marks, the author of “Mastering the Market Cycle: Getting the Odds on Your Side.”.
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Financiers must think about taking a stake in utilities, and decreasing their financial investments in more unpredictable tech stocks, he said.
” Im not saying get out,” he said. “I think that running out the marketplace is quite dangerous today, and I believe it would be a mistake to raise money.” More reputable stocks can safeguard financiers from huge losses if the environment modifications.
Defense is the name of the video game for a couple of reasons.
” Im not stating get out,” he said. More dependable stocks can protect investors from big losses if the climate changes.
Thats what Howard Marks, co-chairman of Oaktree Capital, told CNNMoney editor-at-large Richard Quest on “Markets Now” on Wednesday.
Marks likewise indicated the trade war with China as another reason for financiers to tread carefully.