Oaktree Capital Management LP co-founder Howard Marks is sounding a cautionary note on today’s market, drawing parallels to the late 1990s tech boom while offering investors a roadmap for navigating what he believes are the early stages of another bubble.
Speaking on Bloomberg Television on Aug. 20, the legendary investor painted a picture of a market where stocks have become “expensive relative to fundamentals or reality,” driven by psychological forces where investors increasingly “like stocks too much.” But unlike many market bears, Marks isn’t hitting the panic button just yet.
