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Investing - Theory, News & General • Howard Marks - The Memo - Is is a bubble?

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Interestingly, I do not think they are generating lots of cash.

Between AI investments and stock buybacks (to offset employee stock-related compensation) I don't think these companies are generating cash? In fact they are using off balance sheet real estate vehicles to finance data centers? I have not looked at the numbers but I believe the net effect is that their debts are increasing at the moment.
Putting a face on it…

https://www.cnbc.com/2025/12/09/oracles ... nings.html

Statistics: Posted by Northern Flicker — Thu Dec 11, 2025 3:21 am — Replies 23 — Views 2397



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