Howard Marks: Investing in AI Stocks is ‘closer to Speculating’ Than Analysis
Quick Read - Marks rates NVDA as high-probability long-term but compares private AI startups to lottery tickets, while AMZN and fellow hyperscalers offer real cash flows and moats. - Hyperscalers are committing over $600 billion to AI capex in 2026 as the Shiller CAPE at 42...</p