Howard Marks · Bloomberg Television · 18 March 2026
“I think you would have to say, optimism, not pessimism, credulousness, not skepticism, are in the ascendancy today, and when optimism and credulousness are in the ascendancy, it gets hard to make return investments that will produce what we call excess returns,”
Verbatim excerpt with a timestamp. The full recording is at the source; we link out and do not host it. Everything Howard Marks is on record saying.