Howard Marks: This is a time for caution

Billionaire investor Howard Marks things the market’s current valuation if “lofty”.

Marks, who called the financial crisis, just told his clients in a note that now is “a time for caution”.

The investment expert advised that his clients move into lower-risk investments.

Mark did emphasize that he isn’t exactly sure when a correction will happen, saying “it feels like we’re in the eigth inning, but I have no idea how long the game will go no”.

In that same letter to clients, Marks said that the surge in bitcoin is just another sign of a bubble brewing.

Marks’ firm Oaktree Capital has $99B of assets under management as of June 2016.



Watch video: [OakTreeCapital]

Source: CNBC

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