Investors can do some buying as markets are 'a lot cheaper,' says billionaire investor Howard Marks
Speaking to CNBC, billionaire investor Howard Marks said: "I personally think that securities are low enough to buy a little. Somebody said to me, 'is this the time to buy.' I say no, this is a time to buy."
A pedestrian wearing a protective mask walks along Wall Street in front of the New York Stock Exchange in New York, U.S. on Monday, March 30, 2020.Oaktree Capital co-chairman Howard Marks is leaning toward a more negative outlook because of the uncertainty from the coronavirus pandemic, but still, he said investors can do some buying as "things have gotten cheap enough."
Markets have been highly volatile since the coronavirus spread globally, with stocks swinging wildly in the past few weeks, leading many investors to question when the bottom will be. The S&P 500, for instance, had several consecutive days in March with daily moves larger than 4%., losing more than 23% of its value in the first three months of 2020. The 30-stock benchmark had its worst quarter since 1987.
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