Skip to Content

Howard Marks on the Market now

The great investor takes the temperature on the entire market (since he does so much in the distressed  space)

  • Mood of the market was not overconfident or pessimistic and they were under-owned. Currently, interest is modest. Equities do not have too many overly bullish commentators
  • Bonds, people were not bullish but were forced to go further up the risk curve to take on more risk
  • FED did a great job making people retake risk taking
  • People overpaid for bonds and treasuries
  • Investors should see the words “languishing” as an opportunity meaning things are “getting cheaper”
  • Emerging market gotten cheaper relatively cheaper to developed and worth a look
  • Secondary and Tertiary real estate in non-core  city. He does not feel strongly using REITs to play the real estate
  • On having colleagues or trusted people to control your emotion in boom times so that you don’t get overconfident
  • Things come back, people overestimate fear

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Thursday 1st of August 2013

Yes, agree with him, market always come back, so weak price is a sign to buy rather than a fear factor to sell.

Thanks for the article.


Monday 29th of July 2013

though unrelated here, I would appreciate your answer regarding my question on SingPost. I am surprised to read, in its annual report, that the Group CEO Dr Wolfgang Baier got paid S$1.25 million, in addition to share option worth S$435K. That is much more than the total remuneration of all directors put together, including Chairman Lim Ho Kee. Do you know the logic of this remuneration structure?

This site uses Akismet to reduce spam. Learn how your comment data is processed.