Economics

Oaktree Capital's Marks Doesn't See U.S. Recession Coming Soon

Market cycle is ageing, but could go on for longer: Marks
Investor says it is time to be cautious though stay invested

Howard Marks, co-chairman and co-founder of Oaktree Capital Management, discusses what’s driving markets.(Source: Bloomberg)

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By Haidi Lun, Adam Haigh and Emily Cadman

October 22, 2018 at 2:43 AM UTC

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Now is the time to adopt a cautious investment strategy as the market cycle ages, though there aren’t signs of an impending U.S. recession, according to Oaktree Capital Group LLC’s Howard Marks.

The world’s largest economy is still doing “very well,” Marks, chairman and co-founder of one of the world’s largest alternative and distressed investment firms, told Bloomberg TV in Sydney on Monday. Despite a lack of bargains in many markets, strategies should focus on remaining invested and position defensively, without piling into cash, he said.