URGENT UPDATE: Renowned investor Howard Marks has just declared that both gold and bitcoin are fundamentally uninvestible. In a striking investment memo released earlier today, Marks, who has been shaping financial markets for over 35 years, emphasized that these assets do not meet the rigorous criteria he applies to viable investments.
Marks, co-founder of Oaktree Capital Management, made his stance clear in his latest memo titled “The Nature of Investment.” He stated that gold, often viewed as a safe haven, fails to generate any cash flow or intrinsic value. Similarly, he dismissed bitcoin as lacking the qualities necessary to be considered a legitimate investment.
This announcement comes as market volatility continues to surge, with investors scrambling for safe havens. As of now, the price of gold stands at approximately $1,900 per ounce, while bitcoin fluctuates around $27,000. Marks’ insights are particularly timely, given the recent debates surrounding inflation and currency stability.
In his memo, Marks argued:
“Investing is not about speculation or hoping for price increases. It’s about understanding what you own and why it has value.”
His remarks resonate strongly with a growing number of investors who are cautious about market trends and looking for informed guidance.
The implications of Marks’ declaration could be profound, especially for retail investors who may be considering these assets in their portfolios. As the financial landscape evolves, his views could sway public perception and investment strategies moving forward.
As this story develops, investors will be keen to monitor reactions from market analysts and other financial experts. Marks’ influence in the investment community means that his opinions could reshape discussions around asset allocation and risk management.
Stay tuned for further updates on this breaking story as more financial experts weigh in on Marks’ controversial evaluation of gold and bitcoin.
