
In today’s commentary on stocks hitting new 52-week highs and lows, iconic credit investor Howard Marks’ comments from his Aug. 13 memo to clients have me pondering whether any of the latest highs and lows have outperformed the Magnificent Seven over the past five years.
Why the Mag 7? Because these seven companies are so exceptional, they’re not Marks’ biggest concern about the S&P 500’s valuation.