Everyone's freaking out about the same four things:
- Stock concentration too high!
- Government debt unsustainable!
- Rates staying elevated!
- AI bubble about to pop!
Same crowd. Same worries. Every single day.
Here's the thing: professional worriers have been wrong about basically everything for the past decade. They missed the entire rally worrying about the next crash.
Concentration? Yeah, tech is big. It's also profitable and growing. That's how markets work.
Debt? Been "unsustainable" since 2010. Still here.
Rates? Everyone said 5% would break everything. Economy's fine.
AI bubble? Maybe. Or maybe we're actually early on something real.
I'm not saying ignore risks. I'm saying the consensus worry list is usually the wrong worry list. Markets don't crash when everyone's already scared. They crash when everyone feels safe.
Right now? Nobody feels safe. That's actually kind of bullish.
- Stock concentration too high!
- Government debt unsustainable!
- Rates staying elevated!
- AI bubble about to pop!
Same crowd. Same worries. Every single day.
Here's the thing: professional worriers have been wrong about basically everything for the past decade. They missed the entire rally worrying about the next crash.
Concentration? Yeah, tech is big. It's also profitable and growing. That's how markets work.
Debt? Been "unsustainable" since 2010. Still here.
Rates? Everyone said 5% would break everything. Economy's fine.
AI bubble? Maybe. Or maybe we're actually early on something real.
I'm not saying ignore risks. I'm saying the consensus worry list is usually the wrong worry list. Markets don't crash when everyone's already scared. They crash when everyone feels safe.
Right now? Nobody feels safe. That's actually kind of bullish.