Oaktree’s Marks Says Oil Decline May Ignite Debt Crisis
This article is for subscribers only.
Howard Marks believes the plunge in oil prices may usher in a new era for investing in distressed debt.
For more than three years, the billionaire investor and Oaktree Capital Group LLC co-founder urged his deal makers to be cautious, warning of loose credit standards and high prices for distressed assets. That may change as the price of oil plummets, Marks said in a letter to clients yesterday.