Marks likewise indicated the trade war with China as another factor for investors to tread carefully.
Thats what Howard Marks, co-chairman of Oaktree Capital, told CNNMoney editor-at-large Richard Quest on “Markets Now” on Wednesday.
” We have a trade fight with China, its probably going to get resolved, however it may go off the rails,” he said. “And if it goes off the rails, it has extremely major consequences for the world economy.”.
CNNMoneys “Markets Now” streams live from the NYSE every Wednesday at 12:45 p.m. ET.
” Im not saying get out,” he stated. More reputable stocks can protect financiers from huge losses if the climate changes.
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Its time for financiers to begin making safer bets.
Financiers need to consider taking a stake in energies, and decreasing their investments in more volatile tech stocks, he said.
” Defense is more vital than offense” today, said 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 service correspondents, the 15-minute program features incisive commentary from professionals.
” Im not saying get out,” he stated. “I believe that being out of the marketplace is pretty hazardous today, and I think it would be an error to raise money.” But more reliable stocks can secure investors from big losses if the environment changes.
Though stocks have been skyrocketing, Marks cautioned that we may be nearing completion of the bull cycle.
Defense is the name of the video game for a couple of reasons.