3 Timely Insights From Legendary Investor

12-figure money manager weighs in on “crash odds” [DWR Logo]( July 17, 2024 Hi Reader Stocks new all-time highs. Gold new all-time highs. Bitcoin surging. It can all seem a bit too crazy if you haven’t been following it all as closely as we do here. That’s why we’re going to do something a bit different today. We recently caught Howard Marks speaking in long form on “In Good Company” podcast. It’s worth a listen because you can hear directly from someone charged with overseeing more than $100 billion. But it’s a long listen. So we took the liberty of picking out three quotes that may be particularly timely. Here they are: “Let's say the S&P 500 is 20% overvalued today…what’s the probability it will decline in the next year? It’s modest. It’s probably a little better than 50/50.” That’s reasonable. Stocks may be up, but they are nowhere near nosebleed levels. Especially biotech and miners. “The biggest mistake people make is to believe that a process once in operation will continue non-stop forever...that’s what takes the market to extreme highs (bubbles) and lows (crashes).” Remember this one for when and if things get truly crazy – 2021-style crazy. “We don’t rely on macro forecasting to drive our investments…Macroeconomists are not right consistently enough to follow.” This is a key one too. Some industries are booming and others are in recession. Data centers and everything around them can’t grow fast enough. DVD’s have been in terminal decline and Redbox is finally bankrupt. [Click here to see how Marks spotted the driving forces that are driving the major trends rolling out today.]( [Read More Button]( Dynamic Wealth Research 2010 West Avenue K #623 Lancaster, California 93536 We are sending this message to {EMAIL}. [UNSUBSCRIBE]( | [PRIVACY POLICY](