Current asset prices not irrational: Howard Marks
Many asset prices are fairly priced in terms of earnings yield vs. 10-year Treasury yield
14 HOURS AGO
Howard Marks, co-founder and co-chairman of Oaktree Capital Management
Many asset prices have skyrocketed to their highest-ever levels as interest rates remain historically low, but that does not mean their current valuations make no sense, said Oaktree Capital Management’s co-founder and co-Chairman Howard Marks.
"While the possibility of rising rates (and thus lower asset prices) troubles us all, I don’t think it can be said that today’s asset prices are irrational relative to rates," he said in a memo published on July 29.