Will 2026 Be The Year The Stock Bubble Bursts? | Kevin Muir

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After two 20%+ years of returns for the S&P in 2023 and 2024, 2025 looks like it will close with another big double digit performance.

Three back to back to back years of performance like this is somewhat rare in markets.

What's the likelihood the streak will continue in 2026?

Or is performance more likely to mean-revert?

To discuss, we're fortunate to speak today with market veteran Kevin Muir, founder and editor of The Macro Tourist, the highly-acclaimed newsletter that currently ranks as one of the top financial Substacks in the world.

Kevin is extremely concerned about the bubble-conditions of the stock market and is confident shares of the Mag 7 companies will -- as they have before -- experience another 33-50% price correction.

#nvidia #aibubble #marketcorrection

0:01 - Introduction: Is there an AI bubble?
0:31 - Market valuations: Trading at 33 times sales
1:30 - Historical market performance and volatility
2:16 - The uncertainty in the current economic landscape
3:40 - How political events impact market perception
5:23 - The shifting dynamics in immigration and labor markets
6:48 - Assessing the current administration’s economic policies
8:50 - The paradox of Main Street vs. Wall Street
10:55 - The impact of globalization on labor and capital
12:22 - The consequences of tariffs on the economy
14:42 - The volatility of stock market sectors
17:30 - Current skepticism in AI investments
19:50 - Are we in an AI bubble?
21:12 - The potential for a brutal market correction
22:44 - Consequences of overvaluation and speculative trading
25:05 - The importance of diversification in investments
27:59 - Opportunities outside the MAG 7 stocks
30:11 - Understanding market interconnectedness and leverage
32:45 - The effect of derivatives on market stability
36:04 - Investing in value stocks vs. growth stocks
38:32 - The implications of rising global fiscal spending
40:54 - Aluminum market dynamics and investment potential
47:27 - The current state of gold and its future outlook
51:50 - Importance of looking beyond US markets
55:10 - Kevin's final thoughts on investment strategy moving forward
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