Investor Howard Marks on where he's finding opportunity, valuations and bitcoin

Howard Marks, Co-Chairman, Oaktree Capital.
David A. Grogan | CNBC

Oaktree Capital co-chairman Howard Marks told CNBC on Monday he believes investors can still find attractive opportunities in companies that were heavily impaired by the coronavirus pandemic.

In a wide-ranging interview on "Closing Bell," Marks discussed his broader outlook on the U.S. economy, rising bond yields and bitcoin.

"If you can find companies that have been penalized for their difficulties in the pandemic and the penalty was overdone and the difficulties were temporary, I think that's a good sector right now," said Marks, who co-founded investment firm Oaktree in 1995.

"Although," he said, "after being trounced thoroughly by tech last year, so-called value and cyclicals have had something of a rebound already this year."

More In CNBC TV Picks

CNBC ProCorporate tax hike could take a bite out of S&P 500 earnings growth in 2022, Goldman’s Kostin says
CNBC ProDan Niles is buying these two stocks in the wake of the Archegos meltdown
CNBC ProThese 3 stocks are attractive, even with the market near record highs, says Decatur’s Degas Wright