The Minutes of Howard Marks on speculation https://minutesof.com/howard-marks/on/speculation/ Everything Howard Marks has said on speculation: 2 verbatim quotes between April 2026 and June 2026, each with a timestamp and a link to the recording it… en Mon, 31 Aug 2026 13:10:27 +0000 Marks argues investing in AI is closer to speculating than analytical investing, describing it as a spectrum. https://minutesof.com/q/36e2710e-1a1a-4adf-9405-ce30b616f7e6/ https://minutesof.com/q/36e2710e-1a1a-4adf-9405-ce30b616f7e6/ “You have to accept the likelihood that what you're doing is closer to speculating. And I don't say that word pejoratively than analytical investing.” — Prof G Markets Fri, 12 Jun 2026 11:00:07 +0000 speculation Marks reports workers trading their 401(k)s on the shop floor at lunch during client CEO visit. https://minutesof.com/q/fca37a55-e506-4c69-8ae5-8d01a8f22246/ https://minutesof.com/q/fca37a55-e506-4c69-8ae5-8d01a8f22246/ “I went to visit one of my clients, a CEO, and he talked about the fact that his workers trade their four zero one k's on the sitting on the shop floor at lunch.” — CNBC Television Mon, 20 Apr 2026 17:53:37 +0000 speculation