Howard Marks' new memo: The 11-week gap itself is a signal

The most valuable takeaway from this article isn't its judgment on the AI bubble, but rather the timing of its release. Howard Marks' last memo specifically discussing AI, Is It a Bubble?, was back in December. About 11 weeks later, he dropped another one titled AI Hurtles Ahead. For a traditionally cautious, cycle-minded veteran investor to be compelled to speak up again in less than three months is itself a stronger signal than any argument he makes.