One of the great David Bowie's most popular songs was titled "Changes" Today's guest David Hay, Chief Investment Officer & Principal at Evergreen Gavekal, might well steal that title for his expected theme of 2025 He sees headwinds that could cause the economy to grow slower than many currently expect. He sees the prices of stocks and bonds at risk. The Fed increasingly behind the curve, the dollar potentially reversing, and lots of uncertainty to soon ensue as the Trump Administration starts to deploy its disruptive policies. He'll walk us through charts of all that and more today. WORRIED ABOUT THE MARKET? SCHEDULE YOUR FREE PORTFOLIO REVIEW with Thoughtful Money's endorsed financial advisors at https://www.thoughtfulmoney.com

Stephanie Pomboy shares her latest outlook on inflation. WORRIED ABOUT THE MARKET? SCHEDULE YOUR FREE PORTFOLIO REVIEW with Thoughtful Money's endorsed financial advisors at https://www.thoughtfulmoney.com

The winds of change are blowing around the globe. 74 countries representing half of the world's population held national elections last year. Many of them -- including the US -- saw a replacement of the ruling incumbent by the opposition, often one promising a more nationalistic agenda. With so many new leaders and their accompanying new policies, what is the outlook for the global economy and financial markets in 2025? To discuss, we have the great fortune of speaking today with Richard Koo, Chief Economist at the Nomura Research Institute as well as author of numerous best-selling books on economics. WORRIED ABOUT THE MARKET? SCHEDULE YOUR FREE PORTFOLIO REVIEW with Thoughtful Money's endorsed financial advisors at https://www.thoughtfulmoney.com

Portfolio manager Lance Roberts lays out the odds for where stocks are headed next. We also discuss the rising bond term premium & what it means, the risk of a large market drawdown in 2025, Lance fir'sm latest trades and the benefits of using time to your advantage in both investing & life. WORRIED ABOUT THE MARKET? SCHEDULE YOUR FREE PORTFOLIO REVIEW with Thoughtful Money's endorsed financial advisors at https://www.thoughtfulmoney.com

Darius Dale, founder & CEO of 42 Macro, has had a remarkably impressive track record in correctly forecasting the markets over recent years. Having turned bullish near the end of 2022, he remained so ever since, helping his subscribers successfully ride the wave of ferocious back-to-back annual returns of over 20%+ in stocks. He also helped them catch Bitcoin's price doubling over the past several months. So, here at the start of 2025, where does his model seeing markets going next? Should we expect more of the same? Or is a trend change in store? Well, after being "ragingly bullish" for the past 2 years, Darius now thinks there's good probability he will turn "ragingly bearish" at some point in 2025. To find out why, watch this video. Follow Darius' work at https://42macro.com/?utm_source=youtube&utm_medium=social&utm_campaign=thoughtful_money&utm_content=jan_15

Despite the confidence Federal Reserve Chair Jerome Powell is doing his best to project, inflation has not yet been slain. And today's guest expert, Jim Bianco, founder of market research firm Bianco Research, thinks it's going to continue to prove problematic as the return of the "bond vigilantes" increasingly undermines the Fed's efforts. We'll talk about his reasons why, as well as his concerns about the current extreme valuations in stocks, and why if they experience a material correction, bonds may not provide the protection to portfolios they did in the past. Follow Jim at: https://www.biancoresearch.com/ https://www.biancoadvisors.com/ https://www.youtube.com/@UCsHvbh9xvK12_1-A6GeY3qQ https://x.com/biancoresearch https://www.linkedin.com/in/james-bianco-117619152/ WORRIED ABOUT THE MARKET? SCHEDULE YOUR FREE PORTFOLIO REVIEW with Thoughtful Money's endorsed financial advisors at https://www.thoughtfulmoney.com

On this channel, we often highlight abnormalities we notice in the financial markets. Today's guest actively embraces them as gifts from the investment gods. In his words: "Fortunately, the financial markets are often quite inefficient, presenting opportunities for us to generate substantial value for our clients’ portfolios." So, where are the biggest inefficiencies in markets today? And what opportunities are they presenting? To find out, we have the great fortune to speak today with highly respected money manager Dave Iben, Chief Investment Officer, Managing Member, Founder, and Chairman of the Board of Kopernik Global Investors, as well as Portfolio Manager of its main funds. Kopernik manages $billions in client capital. WORRIED ABOUT THE MARKET? SCHEDULE YOUR FREE PORTFOLIO REVIEW with Thoughtful Money's endorsed financial advisors at https://www.thoughtfulmoney.com

The drivers that support economic growth and earnings are slowing down. And valuations are stretched to record extremes. For these reasons, portfolio manager Lance Roberts is turning significantly more tactically bearish on stock this year. This doesn't necessarily mean he expects an imminent crash. But it does mean he expects stocks to put in a much more disappointing year than investors have become used to after back-to-back 20%+ annual returns. We discuss his outlook in depth, as well as the new payrolls data, rising bond yields, why credit spreads remain so tight, and his firm's latest trades. For everything that mattered to markets, watch this new Weekly Market Recap. WORRIED ABOUT THE MARKET? SCHEDULE YOUR FREE PORTFOLIO REVIEW with Thoughtful Money's endorsed financial advisors at https://www.thoughtfulmoney.com

Today's guest has long warned that the bond market will one day take the printing press away from the Federal Reserve. Well, the Fed has now CUT its policy rate by 100 basis points since September, but the yield on the 10 year US Treasury note is now 100 basis point HIGHER since then. This has flummoxed many investors and mortgage holders. Yet it begs the question: is this the start of a bond market revolt against the Fed? To find out, we're fortunate to welcome back to the program analyst Bill Fleckenstein of Fleckenstein Capital. Bill predicts the bond market will keep falling until stocks tank. WORRIED ABOUT THE MARKET? SCHEDULE YOUR FREE PORTFOLIO REVIEW with Thoughtful Money's endorsed financial advisors at https://www.thoughtfulmoney.com

Well it's a new year. And in just two weeks, a new American Administration as well. What kind of impact will President-Elect Trump's policies likely have on natural resources, the "real things" that power the global economy? To find out, we're fortunate to be joined by Rick Rule, one of the world's greatest living natural resource investors, and a heck of a gentleman, to boot. Rick sees a lot of opportunity for investors ahead in oil & gas. But the real deals right now are in the gold mining companies, which he reports are the most undervalued he's seen in his long career.

Here are the links to Rick's events mentioned in this discussion:

https://thoughtfulmoney.com/rulebootcamp

https://thoughtfulmoney.com/rulesyndicate

A new bi-weekly show launches today on Thoughtful Money! Macro & market analyst Stephanie Pomboy shares the latest investing trends that have her attention + takes live Q&A from the viewing audience