Howard Marks Blames ETFs for Overpriced FANG Stocks
July 31, 2018 at 12:52 PM EDT
American investor and co-founder of Oaktree Capital Management Howard Marks cited the flow of money stemming from exchange-traded funds into FANG stocks (Facebook, Amazon, Netflix, and Google) as the reason for their soaring prices. “Yes. They are great companies. But the ETFs probably have...