Stocks Are 'Pornographically' Overvalued | Chris Irons, Quoth The Raven

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Sep 11, 2025

In this insightful discussion, Chris Irons, author and publisher of the popular financial newsletter Quoth The Raven, tackles the pressing topic of market overvaluation, suggesting stocks are dangerously overpriced. He examines the precarious landscape shaped by unprecedented liquidity and rising investor skepticism. Irons also highlights the psychological dynamics at play in today's economy, particularly concerning AI stock valuations, and offers intriguing commentary on alternative investments like gold amidst looming economic corrections.

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INSIGHT

Market Valuations Are Artificially Inflated

Chris Irons argues the market valuation is unprecedented and driven by distortions like liquidity and passive flows.
He claims options gamma and passive ETF buying concentrate gains in a few mega-cap names, masking broad weakness.

INSIGHT

Three Hidden Engines Fueling The Rally

Irons links Fed liquidity, passive ETF buying, and options flows as tail risks that prop up prices.
He warns these mechanics can reverse violently when liquidity or sentiment shifts.

INSIGHT

Positive Real Rates Are A Delayed Bomb

Positive real rates act like a time bomb that slowly propagates through debt-dependent parts of the economy.
Irons says the lag means damage may only now be arriving despite earlier rate hikes.

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Today's guest has been a relatively recent entrant into the world of macroeconomic analysis, but he has certainly made a big splash within a short period of time.Chris Irons is the author and publisher of Quoth The Raven, which has become one of most popular financial newsletters around, currently sitting at #25 in the list of top financial Substacks worldwide.Chris's take, while unconventional and unapologetic, often puts its finger right on the heart of issues. He has a talent for declaratively stating in simple words exactly what the rest of us are all thinking, but haven't succinctly voiced yet.So, what's his view of the economy and markets right now?Let's ask the man himself.#recession #inflation #marketcorrection _____________________________________________ Thoughtful Money LLC is a Registered Investment Advisor Promoter.We produce educational content geared for the individual investor. It’s important to note that this content is NOT investment advice, individual or otherwise, nor should be construed as such.We recommend that most investors, especially if inexperienced, should consider benefiting from the direction and guidance of a qualified financial advisor registered with the U.S. Securities and Exchange Commission (SEC) or state securities regulators who can develop & implement a personalized financial plan based on a customer’s unique goals, needs & risk tolerance.IMPORTANT NOTE: There are risks associated with investing in securities.Investing in stocks, bonds, exchange traded funds, mutual funds, money market funds, and other types of securities involve risk of loss. Loss of principal is possible. Some high risk investments may use leverage, which will accentuate gains & losses. Foreign investing involves special risks, including a greater volatility and political, economic and currency risks and differences in accounting methods.A security’s or a firm’s past investment performance is not a guarantee or predictor of future investment performance.Thoughtful Money and the Thoughtful Money logo are trademarks of Thoughtful Money LLC.Copyright © 2025 Thoughtful Money LLC. All rights reserved.