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.
THE BOTTOM LINE
MARKS SAYS ‘THIS IS A TIME FOR CAUTION‘
Watch video: [OakTreeCapital]