Howard Marks is out with a new Memo this week. He offers his view on where the market’s stand today and a lengthy discussion on the impact of the tax cuts.
The short version on tax cuts is it’s short-term positive, long-term negative – mostly good for businesses, but for individuals it depends. He covers some second-order consequences for the tax in general and the new state and local tax deduction limit specifically. It’s worth reading through.
The rest of the memo is spent reviewing things he’s repeated the last few years. So if you’ve read any Memos the last couple years, it will sound familiar: Continue Reading…
