Combined they have 40 years experience managing money and navigating the markets and oversee $100 billion in assets. I'd say they have some credibility.
Howard Marks thinks there has been a turn in market sentiment. From 1960 to 2000 investors were interested in growth, and now they are interested in safety and security of yield.
By 2000 valuations on equities had gotten too high and for the last 13 years the markets haven't gone anywhere. Meanwhile yields on secure investments have shrunk.
Enjoy the video!