(Marketwatch) The U.S. stock market has rebounded mightily in recent months but Howard Marks cautions investors to brace for a tough slog in the economy, and that’s even if a fresh fiscal stimulus package can be passed by Congress to help heal the coronavirus-stricken business climate.
“Thus, this down-cycle cannot be fully cured merely through the application of economic stimulus,” the co-founder and co-chairman of Oaktree Capital Management, the largest investor in distressed securities worldwide, wrote in a lengthy screed, reflecting on the current state of the economy and the market.
