Spring of ‘08 Vibes with Brett Jefferson of Hildene Capital Management
RiskReversal Pod
00:00
The Risk of a Bear Market Rally
The market's expensive earnings have been slowing despite the fact that they're, I guess, better than people thought they would be. The euphoria around certain areas, specifically this AI phenomenon, is dragging stocks higher for some perceived notion that this is going to be the panacea of a lot of these companies. Look at what's going on in Europe. Their inflation problem is far greater than ours. They're willing to forego growth and sort of really hamstring their economy by continuing to raise rates. That's a global problem. And the fact that the equity markets here aren't seeing it yet is a bit perplexing.
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