Late-Stage Mania: “The Worst Thing Ever”

Published on June 5, 2026

We are expecting inflation in energy prices and a decline in interest rates when the poop hits the AI mania fan. For these reasons, we are overweight in oil stocks and home builders. These industries prospered in the 1970s, once the stock market mania broke in late 1972!

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Are Bessent’s Hands Tied?

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