Renowned investor Howard Marks (Trades, Portfolio), the co-founder and co-chairman of Oaktree Capital, discussed his outlook on the economy with CNBC's "Closing Bell" on Monday.
The guru, whose Los Angeles-based firm is known for its alternative investments, said he believes the economic recovery will be strong with positive trends in income and savings.
He noted that he believes last year's recession was the bottom the market had been anticipating and that a new upcycle may have begun.
Marks also said he thinks the markets are "pricing in the economic positivity."
"It's very unusual to have the market at high level, and certainly you couldn't say this is a high level, at the same time that a recovery is getting going," he added. "Usually, high levels on stocks coincide with high levels on the economy."
Watch the full segment below.
Disclosure: No positions.
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