Howard Marks Interviewed: “There’s No Free Market Today”
by Tyler Durden
ZeroHedge.com
07/24/2015
“If investors want complete safety, they can’t get much income, and if they aim for high income, they can’t completely avoid risk. It’s much more challenging today with rates being suppressed by governments. This is one of the negative consequences of centrally administered economic decisions. People talk about the wisdom of the free market – of the invisible hand – but there’s no free market in money today. Interest rates are not natural.”
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