Bonds Are Better Than Cryptocurrency, According to Howard Marks

Howard Marks doubts Bitcoin’s value and recommends high yield bonds over gold and crypto for attractive fixed income returns in a rising rate environment.
Bonds Are Better Than Cryptocurrency, According to Howard Marks

One of the most influential traders on Wall Street, Howard Marks, co-founder of Oaktree Capital Management, casts doubt on the worth of Bitcoin and even gold in order to steer investors toward high yield bond funds.

In a recent episode of Merryn Talks Money, Marks acknowledged the historical stability of gold but expressed skepticism about its fundamental rationale, while there is currently insufficient evidence to support the case for Bitcoin.

As the zero-rate interest period ends, he learns that the investing environment is changing. He contends that this calls for switching to safer options, such high-yield bonds, which offer competitive rates due to their fixed income features.

Specifically, stability-seeking investors may be better off with gold ETFs than with Bitcoin ETFs, which are still in their infancy and highly volatile owing to underlying regulatory changes or happenings inside the Bitcoin Sphere. While gold exchange-traded funds (ETFs) grew in 2023, the Bitcoin ETF was a riskier choice.

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