A Major Market Rotation Could Be Coming
Source: SeekingAlpha
2025-11-19 15:15:13 ET
Legendary investor Howard Marks, in a recent interview, warned that the S&P 500 ( SPY ) has reached a valuation level that has never produced strong long-term returns in its entire history. In fact, the current valuations are at a level where, historically, over the next decade, the market has delivered real returns of near 0%. As a result, Marks argues that credit offers vastly superior risk-reward to equities right now....
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A Major Market Rotation Could Be Coming
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