Howard Marks used one of the iconic quotes of the financial crisis to highlight what’s wrong with markets today
|07/30/2017||Posted by BusinessMediaguide.Com under General World News||
Howard Marks, billionaire investor and founder of Oaktree Capital Management, knows these good times can’t last forever.
In his latest ‘Oaktree memo‘ to clients on Wednesday, Marks recalled an iconic pre-crisis quote from then-Citigroup CEO Chuck Prince.
“When the music stops, in terms of liquidity, things will be complicated,” Prince said in 2007. “But as long as the music is playing, you’ve got to get up and dance. We’re still dancing.”
Marks says this quote is just as relevant today, 10 years later, as it was then. Investors know there is risk, but until then they have no choice but to read more >>>