Episode
Meta & Microsoft in Bear Market. So Why are Markets at Highs?
- Podcast
- The Art of Investing
- Published
- Jun 26, 2026
- Duration seconds
- 3578
- Processing state
not_requested- Canonical source
- https://share.transistor.fm/s/34ac1cb8
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Summary
📈 Download the full Portfolio Performance Slides View the portfolio breakdown: here 📧 Get in touch: [email protected] 📱 Behind the scenes: _theartofinvesting on TikTok 🎧 Listen on: Apple , Spotify , YouTube This week on The Art of Investing , the team are joined by returning guest Stewy Thompson, as Rich dials in from Miami and CJ checks in from sunny Norfolk. It’s been a far more mixed week for markets and the portfolio, with sharp divergences across asset classes. While equities continue to broaden out beyond big tech, commodities have sold off heavily and currency movements are starting to play a bigger role. The team unpack the ongoing rotation in markets, the implications of a stronger US dollar, and whether the AI-driven rally is evolving rather than ending. They also explore growing pressures in private markets, shifting macro conditions, and what all of this means for the portfolio going forward. This Week's Highlights: 📉 Commodities Come Under Pressure Gold enters a bear market and silver crashes sharply, with copper and broader commodities also selling off in a difficult week for the asset class. 💵 Dollar Strength Returns A stronger US dollar puts pressure on commodities and emerging markets, while also impacting hedged positions within the portfolio. 🔄 Market Rotation Continues The rally broadens beyond mega-cap tech, with the Russell 2000 and equal-weight S&P hitting new highs as money rotates within equities. 🤖 AI Story Evolves Blowout results from memory chipmakers reinforce the AI theme, but questions remain over sustainability and valuations. 📉 Magnificent Seven Underperform Several of the largest US tech stocks enter bear market territory, highlighting increasing dispersion across markets. 🏦 Private Markets Show Strain Rising redemption requ…