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Quick Take: Another Heavyweight Distressed-Debt Investor Urges Caution in Market

Photo: Visual China
Photo: Visual China

Oaktree Capital Management, a Los Angeles-based distressed-debt investor that oversees $100 billion in assets globally, warned that uncertainties in the market might be higher and more prevalent than investors perceive.

“We are in a low-return, high-risk world,” Oaktree Capital Co-Chairman Howard Marks told reporters in Shanghai.

“More funds have been raised for private equity than ever before. There has been a rise in so-perceived ‘super stocks’ and speculative investing, and return on cash is at punitive levels,” he said.

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