Billionaire investor Howard Marks discussed Tesla’s valuation, growth vs value investing, and the Fed juicing markets in a recent interview. Here are the 8 best quotes.


Howard Marks

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Howard Marks advised casual investors who have won big on Tesla to withdraw some of their gains in a recent Bloomberg TV interview.
The billionaire cofounder of Oaktree Capital Management also argued that value investors can own growth stocks, without undermining their investing principles.
Marks highlighted the Federal Reserve and Treasury’s stimulus efforts as key drivers of the current stock-market boom as well.
Here are Marks’ 8 best quotes from the interview.

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Billionaire investor Howard Marks recommended amateur Tesla investors cash out some of their profits during a Bloomberg TV interview this week. His comments suggest he’s not especially bullish on Elon Musk’s electric-vehicle company following its 700% stock rally over the past year.

The cofounder and cochairman of Oaktree Capital Management also argued value investors can buy growth stocks trading at high price-to-earnings ratios without betraying their principles. Moreover, he attributed a large part of the recent stock-market boom on the US government’s efforts to stimulate the economy.

Here are Marks’ 8 best quotes from the interview, lightly edited and condensed for clarity:

1. “Tesla is an extreme case. There’s an argument to be made that it’s too high. The people who are buying it, you can’t say that they’re all nuts. There may be people who have a view that it’s attractive. By the way, people said that it was too high two years ago. Have all the appreciations in the last two years been fallacious? Who are we to say?”

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2. “An individual not of great means — he should take some profits. If he bought Tesla two years ago, he probably has a huge gain. It’s probably a very disproportionate amount of his financial net worth and his portfolio. He should absolutely cut …read more

Source:: Business Insider

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