Oaktree founder and billionaire Howard Marks on CNBC just explained why everyone thinks interest rates will go up.
At the end of QE2, the fed is going to stop buying bonds in large quantities, so prices will float down. And that corresponds with a rise interest rates, he says.
He also said that Warren Buffett convinced him to write a book. “Warren Buffett wrote me a letter and said, if you write a book, I’ll give you a blurb,” said Marks.
Watch the interview below.