‘Expensive, but not nutty.’ Howard Marks on U.S. stocks and the one thing investors should be doing right now.
1. Stocks rise amid optimism for Fed rate cuts and U.S.-China trade. 2. Howard Marks cautions U.S. market optimism may lead to high prices. 3. S&P 500's P/E ratio at 22.7 indicates potential overvaluation risks. 4. Tech stocks show strength, but broader market may face challenges. 5. Marks suggests increasing defensiveness in investment strategies.