The creator is not buying Micron at current prices, citing concerns about the cyclical nature of the semiconductor industry and potential CapEx downturns.
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The BIGGEST BANK just said THIS about Stocks for 2026...
Jul 11, 2026
The creator discusses JP Morgan's Guide to the Markets, focusing on the S&P 500's valuation. The S&P 500 is trading at over 20 times forward earnings, which is considered expensive, about a standard deviation above the 30-year average and comparable to the dot-com bubble and 2021. While higher quality companies and profit margins might justify a higher multiple, expensive markets typically lead to lower expected future returns, with mid-single-digit annualized returns expected over the next 5 years.
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The creator is sitting on the sidelines for Nvidia at current prices, acknowledging it's an incredible business but not one they want to own right now.
Charter is mentioned as a company whose earnings report will be reviewed.
PayPal is mentioned as a company whose earnings report will be reviewed.
Molina is mentioned as a major health insurance company that will report earnings soon.
Elevance is mentioned as a major health insurance company that will report earnings soon.
UNH is mentioned as a major health insurance company that will report earnings soon.
The S&P 500 is trading at over 20 times forward earnings, which is considered expensive and suggests lower expected future returns.
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