Howard Marks, a billionaire investor and founder of Oak Capital, says that in today's low interest rate environment, "unloved" assets are likely to provide a rare return.

"it's not easy to find [investment] opportunities today," he told CNBC on Wednesday. "

Mr Marks believes that with yields on US Treasuries close to zero, other asset classes look "very attractive" by comparison, but returns are likely to remain low.

"so where is the opportunity today? Opportunities come from things that are unpopular. "

--Unpopular assets such as retail and office real estate, as well as stocks in the entertainment and hotel sectors, can yield handsome returns.

Currently, investors can combine "successful but expensive" assets withAssets that "look cheap but face business challenges"Apart from it, it thinks that buying the latter will make a lot of money.

With regard to the latest sell-off in the US market, led by technology stocks, Max said it may not be important that many investors focus on short-term volatility.

While some technology stocks look expensive now, Max says they may "still bring a lot of benefits to people" in the long run, and the key is to determine which companies will be successful in the long run and whether investors' expectations can be verified.

Despite the "unusually strong" market volatility this year, share prices have risen nearly 60 per cent since the trough in March and are now only down 6 per cent, still near all-time highs.

"maybe [earnings] are so good that some people think their positions should be reduced, so they sell, especially in technology," he added. "

"the market seems to have become more volatile. Everyone is depressed and is thinking about short-term performance as if it means everything. "

Max stressed, "what really matters is whether you hold stocks for a long time and whether you hold good stocks." "