Howard Marks

The MAG7 (the seven largest tech companies) are the best companies he has ever seen, and their current P/E ratios in the 30s are reasonable compared to historical examples like the nifty50 that traded at P/E ratios of 60-90. He believes they are not overvalued and are of high quality.

Marks states, "The most important thing for investors is to get on that gravy train and stay on it... Don't just do something. Sit there." He argues that economies grow and companies improve productivity over time naturally. The biggest risk is not market crashes, but "tampering" with the portfolio and missing the long-term compounding by trying to time entries and exits. Remain fully invested in broad indices to capture secular economic growth; avoid hyperactivity. prolonged secular stagnation or "lost decades" in equity markets.