Widely followed investor Howard Marks says the stock market rebound is not reflecting reality
Howard Marks, Co-Chairman, Oaktree Capital.
David A. Grogan | CNBC
Billionaire investor Howard Marks said there is a sharp disconnect between the stock market and the reality the world is facing amid the coronavirus outbreak.
“We’re only down 15% from the all-time high of Feb. 19,” Marks, co-founder of Oaktree Capital Management, said Monday on CNBC’s “Halftime Report.” But “it seems to me the world is more than 15% screwed up.”
The S&P 500 has rallied more than 30% from an intraday low set on March 23, retracing more than half of its fall from record levels into a bear market. As of Monday, the broader market index was down 15.6% from its record.
That rally was sparked in part by encouraging data on the coronavirus, which showed the number of new daily cases peaking globally. Unprecedented stimulus from the Federal …continued .
[Source: CNBC News]