What Marks is saying here is that the future becomes more nebulous in the absence of a positive, risk-free rate of return. The risk floor rises.
The retired "bond king" opined that the interest rate play for the world is gone. There are no more interest rates to be lowered by central banks.
Wood said he was increasingly optimistic of a U.S.-China trade deal this quarter but that the key question was whether that would be a “mini" deal.
The sun rises and sets. The tides come in and go out. The moon waxes and then wanes. Jeff Vinik launches hedge funds, and then closes them.