Sea Change
The Memo by Howard Marks
00:00
The Economy and Markets Are Changing
No one knows how long today's conditions, described previously, will continue to accurately describe the environment. A recession in the next 12 to 18 months appears to be a foregone conclusion among economists and investors. Credit market conditions for new financings seem unlikely to soon become as accommodative as they were in recent years. We've gone from the low-return world of 2009 to 21 to a full return world; it may become more so in the near-term.
Transcript
Play full episode
