Billionaire investor Howard Marks warns investors should expect the lowest returns in history and the market is vulnerable to 'negative surprises'

Oct 13, 2020 - Business Insider

Billionaire investor Howard Marks warned investors in his latest memo to expect the lowest returns in history, and said that the market is vulnerable to "negative surprises." 

"In my view, the low interest rates represent the dominant characteristic of the current financial environment, creating the dominant consideration for investors: the lowest prospective returns in history," the co-founder and co-chairman of Oaktree Capital Management wrote. 

In...