In the last 2-3 years, the US Federal Reserve has been forced to raise interest rates as inflation induced a cost of living crisis – moving away from an ultra-low interest rate regime.
The 76-year-old finds baffling the SVB management’s decision to put about half of its deposits in hold-till-maturity bonds having pitifully low yields. How could anyone have thought rates that low were more likely to hold steady or fall than rise, says Marks
Howard Marks said if one asks Warren Buffett to describe the foundation of his approach to investing, he would probably start by insisting that stocks should be thought of as ownership interests in companies