Mark Changes His Mind

Oaktree Capital co-chairman Howard Marks has rethought his position on cryptocurrencies. He had said they constituted a bubble. Now in a note to investors, Marks reexamines his initial idea.

Marks thinks cryptocurrencies are in a bubble. But he agrees after all that cryptocurrencies are “money” though he is not sure how many will ultimately survive.

“I still don’t feel like putting my money into it, because I consider it a … bubble,” he reportedly said in the note.

He has changed his mind – somewhat, not entirely.

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