The Market Huddle XMAS SPECIAL PT.1
15 snips
Dec 26, 2025 
Harris Kupperman, a contrarian investor, shares his thoughts on the AI bubble and seeks international bargains, especially in Latin America. Porter Collins discusses Trump's tariffs, predicting winners and losers in the market and highlights gold as a hedge against policy risks. Dario Perkins expresses concerns about underestimating reflation risks for 2026, while Jacob Shapiro analyzes U.S. foreign policy dynamics. Vincent Deluard is surprised by Trump's effectiveness and anticipates more fiscal stimulus and energy sector growth. It's a lively mix of insights!
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AI Spending Outpaces Revenue
- Harris Kupperman argues the AI boom is a bubble with huge spending and little revenue potential.
- He expects AI spending to be reined in once profits fail to appear and the bubble to deflate over time.
Market-Economy Divergence May Reverse
- Harris also highlighted a weak real economy diverging from buoyant markets and warned stocks may eventually catch down.
- He sees a prolonged sideways nominal market like the 1970s rather than a sudden crash.
Look Overseas For Cheap Growth
- Kupperman says international markets offer cheap, growing businesses trading at single-digit multiples.
- He recommends investigating overseas bargains, particularly in Latin America.