The Minutes of Howard Marks on s&p 500 https://minutesof.com/howard-marks/on/s-p-500/ Everything Howard Marks has said on s&p 500: 2 verbatim quotes between August 2025 and February 2026, each with a timestamp and a link to the recording it… en Mon, 31 Aug 2026 13:10:26 +0000 Marks states 2023-2025 ranks as seventh best three-year S&P 500 period out of last 100 years. https://minutesof.com/q/b47068e2-6c16-42d6-b147-c496ec5d8054/ https://minutesof.com/q/b47068e2-6c16-42d6-b147-c496ec5d8054/ “The period, twenty three four five is for the S and P 500 is, I think, the seventh best three year period out of the last 100.” — Brookfield Mon, 23 Feb 2026 18:35:50 +0000 s&p 500 Marks cites JPMorgan chart showing negative correlation between S&P 500 PE ratios and subsequent ten-year retu https://minutesof.com/q/ed447950-2c8e-4077-a32d-efabb8ba0eb4/ https://minutesof.com/q/ed447950-2c8e-4077-a32d-efabb8ba0eb4/ “And it was a negative correlation, which means the higher the PE ratio you pay, the lower the return you should expect.” — My First Million Fri, 22 Aug 2025 12:36:27 +0000 s&p 500