This time isn’t different – Howard Marks

CNBC/Thomas Franck

Graphic multicolored circular group of arrows denoting market cycle“Billionaire investor and Oaktree Capital Management Co-Chairman Howard Marks is worried to hear investors say ‘this time it’s different’ or openly wonder if the historic bull market and economic success ‘can only get better forever.’ In a 12-page letter sent to Oaktree clients on Wednesday, Marks questioned nine financial theories he’s heard in recent meetings, including the notion that central bank policy can lead to evergreen market success and that economic recessions can be consistently delayed.”

USAGOLD note:  When it comes to markets, linear thinking is rarely rewarded over the longer run.  As Richard Russell, the famed newsletter writer, often said:  “Trees do not grow to the sky.”

Repost from 6-13-2019

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