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Sydnee Gatewood
Sydnee Gatewood
Articles (2485) 

Howard Marks Says Buying at Current Levels Is ‘Not Irrational’

Investor shares his perspective on the market environment in CNBC interview

March 18, 2020 | About:

On CNBCs Closing Bell on March 16, Oaktree Capital Co-Chairman Howard Marks (Trades, Portfolio) discussed the current market environment following its significant selloff last week in the wake of the coronavirus pandemic and the oil price war.

The major U.S. indexes suffered one of their worst days ever on Monday as the Dow Jones Industrial Average tumbled 12.9% and the S&P 500 Index sunk 12%. The Nasdaq Composite lost 12.32%.

Since the market is pricing in a bad scenario, the renowned guru said it makes sense for investors to be buying into the market.

I do think that here we are down 30 [percent] from the high and the high in my opinion was not a crazy high I think we have value here, he said. And Ive expressed the view that spending some money is not irrational here.

Despite seeing value in the market, Marks did caution against investors spending all their money as the selloff may be far from over.

Watch the full segment below.

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About the author:

Sydnee Gatewood
I am the editorial director at GuruFocus. I have a BA in journalism and a MA in mass communications from Texas Tech University. I have lived in Texas most of my life, but also have roots in New Mexico and Colorado. Follow me on Twitter! @gurusydneerg

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