If you think the stock market is high right now, you're in good company. Some of the world's most revered investors are saying the very same thing.
Here's Howard Marks, co-chairman of Oaktree Capital Group (NYSE: OAK) in a memo to clients circulated last month:
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Seth Klarman, head of Baupost Group, a fund with $30 billion in assets under management, called valuations in the stock market "perilously high" earlier this year before expanding on the dangers of the current administration's protectionist bent on trade policies:
Here's Ray Dalio, founder and former co-CEO of Bridgewater Associates, one of the world's largest hedge funds, with $150 billion in assets under management, writing in a recent LinkedIn post:
Here's Jeffrey Gundlach, co-founder and CEO of DoubleLine Capital, a fund with $110 billion in assets under management:
And here's Warren Buffett, the chairman and CEO of Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B), intimating the same thing in his latest letter to the shareholders of Berkshire Hathaway:
Could all of these people be wrong? Of course they could, and they would readily admit it, as Buffett has done on multiple occasions in past letters to Berkshire Hathaway's shareholders. Marks has done the same. In his latest memo, he noted at the outset to Oaktree Capital's investors that he's been issuing warnings about the market for multiple years now.
But whether these investors are proven to be right or not -- and these are among the best investors in the United States over the past few decades -- it certainly seems reasonable to consider what they're trying to tell you.
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John Maxfield has no position in any stocks mentioned. The Motley Fool owns shares of and recommends Berkshire Hathaway (B shares). The Motley Fool recommends Oaktree Capital. The Motley Fool has a disclosure policy.