Oaktree Co-CEO Calls Market Pricing ‘Head-Scratcher’ Given Risks

Oaktree Capital Management Co-Chief Executive Officer Armen Panossian warned that markets have been too quick to shrug off a slew of fundamental issues, which are prompting his firm to preserve cash for when a correction comes.

Panossian noted that “tremendous” post-pandemic liquidity, a desire to stay invested and strong backward-looking corporate performance have encouraged investors to look through the underlying economic data. This resilience is further bolstered by a prevailing market belief that President Donald Trump won’t do anything to permanently derail the economy, he said.