Howard Marks, co-founder of distressed debt firm Oaktree Capital Management LLC, says he’s looking to find “hidden gems” in a world where too many buyers are driving returns down.
“Ever since the Fed and the Treasury and the world’s central banks rescued the global economy,” and the Fed injected trillions of dollars into markets, investors have became “forced buyers,” Marks said in a video interview Wednesday afternoon. That turned bargain hunting into a “very challenging” activity, he said.
Marks said he sees opportunities in sectors such as airlines, hotels, resorts and movie theaters.
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