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Rational Dissent

Episode 001. Why Do Investors Expect So Much?

July 24 · 33 min · Season 1 · Episode 1 · 32.0 MB
0:00-33:17

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Investors have become accustomed to stocks returning double digits year after year. Is that the new normal? What should investors expect?


Chapters

00:00 - Introduction to Rational Dissent

00:32 - Welcome & Market Returns Overview

02:22 - CapEx vs. Cash Flow: The 3-in-1 Tech Supercycle

06:43 - S&P Concentration: A Two-Asset Class Market

09:16 - Valuation Breakdown: The Shiller CAPE Ratio

11:38 - Explaining the 4-5-6 Market Model

17:51 - Retail Sentiment, Bubble Behavior & Software Spending

26:09 - TIPS & Long-Term Real Return Opportunities

28:13 - Lightning Round: AI's Long-Run Sector Comparable

32:42 - Closing Remarks


Charts Used:

https://www.biancoresearch.com/bianco/podcast/2026/07/AIvsNonAICorrelation072426.png

https://www.biancoresearch.com/bianco/podcast/2026/07/CAPERatiovsReturns072426.png

https://www.biancoresearch.com/bianco/podcast/2026/07/456Markets072426.png


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