Howard Marks expects a lower return from the S&P 500 over the next decade. Here’s what he likes better. - MarketWatch
1. Howard Marks recommends credit investments over S&P 500 for better returns. 2. High-yield bonds yield 7%, while private credit yields 9%-11%. 3. Current 10-year Treasury yields exceed S&P 500 earnings yield. 4. Marks believes today's credit offers healthy returns despite narrow spread. 5. Potential economic unpredictability under Trump's policies could impact yields.