Investors should be more defensive: Expert

Be wary when people accept a lot of risk and feel good about risk, says star investor Howard Marks

Mr Howard Marks, co-chairman of Oaktree Capital Management with a reputation for being a bargain hunter, said he thinks it is better to invest today than it was on Oct 1 and there is optimism in market prices with the approach of the tail end of a lo
Mr Howard Marks, co-chairman of Oaktree Capital Management with a reputation for being a bargain hunter, said he thinks it is better to invest today than it was on Oct 1 and there is optimism in market prices with the approach of the tail end of a long bull market. ST FILE PHOTO
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Despite recent volatility, there is not much distress yet in the financial market, said American celebrity investor Howard Marks.

"Most of the quantitative evidence is modest - not optimistic, but not too bad," he added. "My general position is that when people are accepting a lot of risk and feeling good about risk, that makes the market a risky place and we should apply caution."

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A version of this article appeared in the print edition of The Straits Times on January 15, 2019, with the headline Investors should be more defensive: Expert. Subscribe