Episode 001. Why Do Investors Expect So Much?

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 Learn more about Bianco Research: https://www.biancoresearch.com/ Sign up for a free trial of Bianco Research here: https://www.biancoresearch.com/free-trial/?source=YT072426