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Watch billionaire investor Howard Marks on the state of markets and the economy

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Howard Marks, co-chairman of Oaktree and Jon Gray, president and chief operating officer of Blackstone will reflect on today's economy, markets, and opportunities for the future at the Wharton Global Forum in New York Friday morning.

Marks is known for his prescient investment memos, which warned about the financial crisis and the dot-com bubble implosion.

In January, the widely-followed investor told CNBC he saw "cautionary signs" and held a tepid outlook for financial markets over the long term. Marks, whose firm had $99 billion of assets under management as of last year, said investors' returns over the next decade "depends on whether they have access to nontraditional investments."