
Prof G Markets The Bull Case for 2026 — ft. Tom Lee
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Dec 12, 2025 Tom Lee, a veteran equity strategist and co-founder of Fundstrat Global Advisors, boldly shares his optimistic outlook for 2026, citing market recovery potential. He discusses the crucial role of AI and big tech in driving earnings growth despite current market skepticism. Lee highlights small caps and financials as undervalued sectors ripe for investment. Delving into Bitcoin, he presents a bullish stance post-October's market turmoil and compares today's AI excitement to the internet boom of the late '90s, emphasizing innovation's impact on the economy.
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Six Black Swans Held Markets Back
- Tom Lee shares market shocks he calls 'six extinction events' that suppressed investing.
- He frames these events as reasons investors remain cautious despite underlying strength.
Suppressed Market, Stronger 2026 Ahead
- Six major shocks since 2020 suppressed full-risk investing and business animal spirits.
- Tom Lee expects a stronger, more expansionary cycle starting in 2026 as those shocks fade.
AI Leaders Drive Broader Market Gains
- Big-cap AI leaders must keep delivering earnings to power the market's upside.
- If large-cap tech sustains growth and PE stays stable, broader stocks can rally when rates fall.







