Despite the markets trading at all-time highs and likely to end the year up near +20%, they are "very fragile" warns portfolio manager Lance Roberts.
Record margin debt, AI buildout concerns, record valuation levels, highly optimistic earnings expectations, and credit market stresses each and all could trigger a market correction in 2026.
Lance and I discuss those risks, as well as the recent Fed "not-QE" announcement, non-correlated assets, and Lance's firm's latest trades.
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