Billionaire Howard Marks, Oaktree Capital Management co-chair, explains why he thinks financial markets may be in the middle of the third sea change of the last 50 years. Speaking in an exclusive interview with Romaine Bostick on "Bloomberg Markets: The Close," Marks also discusses Federal Reserve monetary policy and current inflation levels.
I hope he is right, but I am cynnical despite his undeniable expertise and stellar track record. Believing the FED will stay firm is like believing in santa.