New York CNNMoney —
It’s time for investors to start making safer bets.
That’s what Howard Marks, co-chairman of Oaktree Capital, told CNNMoney editor-at-large Richard Quest on “Markets Now” on Wednesday.
“Defense is more important than offense” right now, said Marks, the author of “Mastering the Market Cycle: Getting the Odds on Your Side.”
Investors should consider taking a stake in utilities, and decreasing their investments in more volatile tech stocks, he said.
Defense is the name of the game for a few reasons.
Though stocks have been soaring, Marks warned that we may be nearing the end of the bull cycle.
“I’m not saying get out,” he said. “I think that being out of the market is pretty dangerous today, and I think it would be a mistake to raise cash.” But…