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Markets may look strong on the surface, but underneath, deep fractures are forming.

In this conversation with Maggie Lake, Cullen Roche, Founder & CIO of Discipline Funds and author of Your Perfect Portfolio, explains why today’s macro economy is defined by bifurcation: wealth, market gains, and opportunity are increasingly concentrated in a few areas — especially U.S. technology.

Cullen breaks down how inequality shows up not just in society, but inside financial markets themselves, leaving many investors feeling stuck on the outside looking in. He explains why most portfolios are far more concentrated in U.S. tech than people realize, even when they believe they’re diversified, and why global diversification may offer protection against rising domestic and geopolitical risks.

The discussion also explores underestimated geopolitical threats, why investing should be treated as a disciplined savings process rather than a return-chasing strategy, and how gold works best as long-term insurance, not a short-term trade.

Video Length: 00:51:21

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