News · Equities · MarketWatch · Thu, Oct 15, 2026 12:00 PM
Kaplan diverts to safer bets as S&P 500 near record
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Steven Jon Kaplan warns of irrational S&P 500 rally and prefers safer investments.
Steven Jon Kaplan, a 30‑year market veteran, has expressed concern over the S&P 500’s rapid climb toward a new high.
He argues the current rally is largely irrational, noting that many investors are ignoring a safer path to market exposure.
Kaplan has begun reallocating his portfolio toward more defensive positions, though the specific assets are not disclosed.
Kaplan’s alternative strategy
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OpenBook analysis
Market impact
Kaplan’s caution may signal a shift among seasoned investors toward defensive positions, potentially increasing demand for low-beta or fixed-income securities. Traders may watch for broader market volatility as sentiment diverges from the current S&P 500 rally.
General market context for education only, not investment advice.
This briefing was summarized with automated tools from public reporting by MarketWatch and is general market information, not investment advice. Editorial policy & corrections