Editor's PiCK
'Wall Street Legend' Howard Marks: "Cryptocurrency Has No Intrinsic Value... I Don't Invest"
Summary
- Howard Marks stated that he does not invest in cryptocurrencies as they have no intrinsic value.
- Marks evaluated cryptocurrencies as 'speculative investment assets' and noted that they cannot generate income.
- He emphasized that the investment methodology of predicting and analyzing the future value of assets does not apply to cryptocurrencies.
Howard Marks, chairman of Oaktree Capital, renowned as a legend of value investing, stated, "I do not invest in cryptocurrencies that have no intrinsic value."
In an interview with Korean journalists on the 24th (local time) at an office near 34th Street on 6th Avenue in Manhattan, New York, Marks said, "My belief in cryptocurrencies is firm. Cryptocurrencies do not generate any income. If they do not generate income, they cannot be valued," he said.
Marks evaluated cryptocurrencies as 'speculative investment assets' with no intrinsic value. He explained, "The primary task of about 1,200 Oaktree employees is to calculate and evaluate the value of assets," adding, "Analytical investing involves predicting future value and determining the appropriate timing to buy." He firmly stated, "I do not invest in cryptocurrencies that cannot be approached with this methodology."
Doohyun Hwang
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