On Bubble Watch

In his latest memo, Howard Marks addresses the much-asked question, “Is there a bubble in AI?” He identifies the uncertainty associated with AI investments and the conspicuous parallels to previous bubbles, while also acknowledging why those comparisons could be inappropriate. Gi ... Show More

In his latest memo, Howard Marks examines the recent string of well-publicized credit problems. He considers how they serve as a reminder that the yield premium offered by sub-investment grade credit isn’t a freebie, but rather compensation for bearing credit risk. While good tim ... Show More

In his latest memo, Howard Marks offers observations based on his meeting with the board, consultant, and senior staff of a state pension fund. Howard explores the key topics covered during the session, including determining an appropriate risk posture, selecting an investment ap ... Show More

You can tell a lot about the market by analyzing what sectors and stocks are leading...and what sectors and stocks are lagging. So, what message are the markets sending out NOW? What should investors consider buying...or selling...as we head into the fourth quarter of 2024? To ge ... Show More

Les Nanberg of Cornerstone Wealth Management in Boston said he sees big slowdowns in economic activity around the world, including the United States, and ntoed that itnerest rate cuts will not do much to stem weakness, especially with a trade war making growth and recovery more d ... Show More

<p><span style="font-weight: 400;">As we put the awfulness of 2020 in the rearview mirror, we thought it might be fun to look back to another bleak period: the 2007-2008 financial crisis! Why? Because Tim hasn't stopped talking about</span> <a href= "https://www.amazon.com/dp/037 ... Show More

<p>When a bubble gets burst, the pin usually gets the blame. But it&#39;s not the pin&#39;s fault. How do bubbles form? What is the definition of a bubble? Bubbles form when three things come together:</p> <ol> <li>A massive amount of capital injected into a segment</li> <li>A ... Show More

<p>Stock tickers may not immediately price in uncertainty during times of geopolitical volatility. Our Head of Corporate Credit Research Andrew Sheets suggests a different indicator to watch.</p><p><br></p><p>Read more&nbsp;<a href="https://www.morganstanley.com/ideas?cid=mg-SM_C ... Show More

The stocks of Walmart Inc. and Costco Wholesale Corp. may represent a risk due to their high valuation, with forward price-earnings ratios of 34.3 times and 47 times, respectively. That's according to Bloomberg Opinion markets columnist Jonathan Levin, who writes that the "percep ... Show More

<p>US equity benchmarks struggled in trading yesterday with the S&amp;P 500 and Nasdaq indices posting losses amid a rotation out of big tech and into small caps. However, the Dow Jones Industrial Average and the S&amp;P 500 Equal Weight indices both hit record highs after US Fed ... Show More