Oaktree’s Marks Says Stocks Hint at ‘Early Days’ of a Bubble (2)

US stocks are “in the early days” for a bubble, although the critical point for a correction has yet to come, Oaktree Capital Management LP co-founder Howard Marks cautioned.

“I’m certainly not ringing the alarm bells. The point is that things are expensive,” the co-chairman of the distressed debt investment manager told Bloomberg Television in a Wednesday interview.

It’s been 16 years since investors last went through a “serious market correction,” he added. The current period reminds him of the late 1990’s when the market was falling in love with tech stocks, leading former Federal Reserve Chairman Alan Greenspan to ...