Oaktree's Howard Marks on regulating private credit: 'You can't regulate prudence'

Howard Marks, co-founder and co-chairman of Oaktree Capital Management, says that private credit offers a fair deal relative to public credit at current yields. As more money flows intro private credit, he says better judgement is needed, not just rules. He thinks it's unlikely that the sector will have to be regulated as there isn't systemic dependence on the private credit market.