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Published: April 16, 2020 at 2:24 p.m. ET, By Shawn Langlois<\/p>\n
\n\u2018There\u2019s good reason the market is going up… but I still think we have a leg down, so I\u2019ve gone to cash.\u2019\n<\/p><\/blockquote>\n
That\u2019s outspoken billionaire Mark Cuban giving some insight on \u201cThe Pomp Podcast\u201d this week into how he\u2019s approaching the sketchy investing climate.<\/p>\n
The Dallas Mavericks owner explained that, before his move into the relative safety net of cash, he lost a \u2018s**tload of money\u201d in his entertainment business. Fortunately for Cuban, his core holdings, Amazon and Netflix, helped to balance out those losses, he said.<\/p>\n
His bearishness on the market, however, is mostly short term.<\/p>\n
\u201cThree years, five years from now, the market will be up from where we are today,\u201d Cuban said. \u201cWhen we look back in 10 years, there\u2019s going to be some amazing companies created, and having access to cash, or having cash, is going to give me an opportunity to invest in them.\u201d<\/p>\n
As for now, beyond just moving completely to cash amid the coronavirus pandemic, Cuban sees opportunities in both commodities and real estate. He didn\u2019t go into details on which commodities, but he pointed to big, dense cities as having some areas where bargains could pop up.<\/p>\n
\u201cIf you think you want to live in New York in the future, now\u2019s the time to buy,\u201d he said.<\/p>\n
Watch the full interview:<\/p>\n