stocks, and the key things they've learned during their careers in a recent RealVision interview.
The
Gotham Asset Management agreed there were signs of irrational exuberance in
markets.
However, they argued that some technology companies deserve aggressive valuations, and rock-bottom interest rates are limiting investors' options. They also questioned the long-term consequences of the US government's efforts to prop up asset prices.
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Here are the nine best quotes from Marks and Greenblatt, lightly edited and condensed for clarity.
Marks: "We are definitely in a time of optimism that is largely man-made, stemming primarily from the actions of the Fed and the Treasury to counter the economic weakness of 2020. They produced a resurrection of risk-bearing. FOMO took over from fear of losing money. And it really led to very strong demand for securities. So that's worrisome."