#390 Ted Oakley: "It's Not a Normal Market" — A Generational Bear Could Cut Stocks 40%
About this episode
Ted Oakley discusses the current market conditions and potential risks of a generational bear market.
In this episode, Ted Oakley, founder and managing partner of Oxbow Advisors with 49 years in the business, returns to discuss his latest letter, "Stick to Your Principles," and why he believes today's market is anything but normal. He warns that 10-12 companies now make up half the S&P 500, speculation via leveraged ETFs is in the billions, and stocks are roughly three standard deviations above the norm — a setup he says could eventually correct 40% or more in a generational bear market. Oakley explains why investor complacency is the biggest mistake he sees, with three-quarters of all financial assets in stocks and Americans over 70 owning a third of the market. He shares where he's finding value now — energy names like Northern Oil & Gas, Kimbell Royalty, and Antero, plus beaten-down gold miners like Agnico Eagle — and recounts the hard lesson he learned chasing hot oil stocks in the late 1970s. His biggest worry: unsustainable government debt. His surprising source of optimism: a severe downturn, which he views as the buying opportunity of a generation. Thank you to our sponsor Monetary Metals. Learn more at https://www.monetary-metals.com/julia/ Links: Oxbow…
People in this episode
Host: Julia La Roche
Guest: Ted Oakley
Topics covered
- market analysis
- investing strategies
- bear market
- financial assets
- government debt
Keywords
- bear market
- S&P 500
- investor complacency
- energy stocks
- gold miners
Sponsors
Monetary Metals
Mentioned in this episode
Organizations: Oxbow Advisors
Products: Northern Oil & Gas, Kimbell Royalty, Antero, Agnico Eagle
Books & works: Stick to Your Principles, Second Generation Wealth
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- #386 Michael Every: Economic Statecraft Changed Everything, Old Playbook Is Dead, New Era Begins
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