Investors should be more defensive: Expert

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

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

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'. Print Edition | Subscribe