Billionaire investor Howard Marks told CNBC the U.S. stock market and other world markets are fully priced.

“We’re in a low-return world. Asset prices are elevated everywhere,” said the co-founder of Oaktree Capital. “One must be cautious.”

“I don’t see any pronounced bargains anyplace,” added the investor on international markets vs. the U.S.

Marks also commented on:

  • The right time for investors to invest
  • Why bonds are fully priced as well

The full, unedited interview from CNBC’s “Closing Bell” with Kelly Evans and Scott Wapner is available to PRO Subscribers only.