Marks argues markets have enjoyed seventeen years without a truly tough period since March 2009, despite brief disruptions.
“the stock market bottomed March 6, I think it was, of 2009, seventeen years ago, this month, and there hasn't really been a tough time in the financial market since then.”
Marks argues that at cycle extremes investors need money and nerve to spend it, not selectivity.
“you don't need conservatism, caution, risk control, discipline, patience or selectivity. You need money and the nerve to spend it.”