(Bloomberg) — Oaktree Capital Management LP is looking for bargains in China even as other investors shun the world’s second-biggest economy, according to co-chairman and co-founder Howard Marks.
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“I’ve made my whole career buying assets that other people consider uninvestable and when you do that, you have a chance of getting a bargain,” Marks said in a Bloomberg Television interview. Comments about China being uninvestable are “music to my ears,” he said.
China’s economy is in a period of transition, but the country still offers investment opportunities, Marks said at a conference in Australia earlier this month. While the US economy is doing well and better than many other countries, asset values there are a little high, compared with bargain prices in China, he said Wednesday.
–With assistance from Wei Zhou, Sharon Klyne and Anand Menon.
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