On this episode of Thoughtful Money, portfolio manager Lance Roberts argues that the setup for the end of 2024 favors a rotation out of high-flying mega-cap tech stocks and into beaten-down value…
Lance Roberts — Podcast Appearances & AI Summaries
Lance Roberts has appeared on 15 podcast episodes in our AI-summarized catalog, including Thoughtful Money with Adam Taggart. Every appearance below has a free 5-minute AI summary.
What Lance said
“If you're really worried about a massive bear market, I'd be buying bonds because that's going to shield you through any type of downturn.”
— Lance Roberts
“If I can lock in 5% where my forward return expectations on stocks are 2% or less, why wouldn't I do that?”
— Lance Roberts
“We have created basically an entire generation of drunkards... and we're going to pay a very heavy price for that in the future, both financially and economically.”
— Lance Roberts (01:13)
“If I knew I was 100 rejections away from my dream job, would I quit?”
— Lance Roberts (93:08)
“If something happens and interest rates get too high that it pops the basis trade, the Fed would have to step in immediately, like they did in 2020, and start unlimited QE — which is exactly what the Fed does not want to do.”
— Lance Roberts on the $8.5 trillion hedge fund Treasury trade
“The way we manage portfolios is a lot like driving a car. You're going down the freeway and you crest a rise and see brake lights ahead — you don't keep your foot on the accelerator. You start tapping the brake.”
— Lance Roberts on current risk management
“The biggest mistake investors make is worrying about corrections. Where everybody goes wrong in investing money is they worry about corrections.”
— Lance Roberts
“Buy and hold has been fantastic for 15 years. All you gotta do is buy stuff and it just goes up. Buy and hold does not work during a bear market.”
— Lance Roberts
“Nobody cares what you think when it comes to the financial markets. The market only cares about the data that's published. How you feel about the data is completely irrelevant.”
— Lance Roberts
“Historically speaking, this [massive equity issuance] is a good indicator that we may be towards the end of this market than an early stage bull market.”
— Lance Roberts
“More money's been lost in preparation for a crash than during the crash itself.”
— Lance Roberts, paraphrasing Peter Lynch
“You never go to 100% cash because you run into this problem: getting out is easy, getting back in is really hard.”
— Lance Roberts
Episode appearances
15 In the third quarter, revisions to the Personal Consumption Expenditures (PCE) index—the Federal Reserve’s preferred inflation gauge—brought the average inflation rate down to 1.6%. Portfolio…
The Fed raised rates by 25 basis points in late September, a move the market had priced in at a 93% probability. But for portfolio manager Lance Roberts, the hike itself was less interesting than…
The episode opens with a stark warning from Lance Roberts: “We have created basically an entire generation of drunkards.” He is not talking about alcohol. He is talking about the normalization of…
The S&P 500 is stuck in a sideways consolidation near all-time highs, but the technical support that has kept it there is about to weaken. Corporate buybacks enter a blackout window starting this…
Nvidia Crushed Earnings, Warsh Spoke at Jackson Hole, and the Market Is Waiting for a Signal Nvidia delivered another blowout quarter—revenue up 106% year-over-year to $96 billion, data center…
Lance Roberts, portfolio manager and self-described masochist, opened this week's market recap with an unexpected confession: he just bought another house. The Austin market, ground zero of the…
Markets Back at Highs, but Underlying Signals Are Shifting Lance Roberts returned to the show after a two-week break and opened with a striking observation: despite the S&P 500 sitting at all-time…
The semiconductor sector, which had been on a white-hot run, is now cooling sharply, down roughly a third from its high, while the broader market shows signs of broadening out into other sectors…
Lance Roberts, portfolio manager and regular guest on Thoughtful Money, returned to the program to update his thesis on the AI-driven capital expenditure boom and its implications for the economy…
Record Margin Debt: "The Blow-up Is Going To Be Spectacular" Lance Roberts and Adam Taggart open with a striking data point: margin debt is at record levels, and people are layering leverage upon…
"Wait a second, we don't have any guidance to work off of. Maybe we need to de-risk some." That is the market's likely reaction next week, according to portfolio manager Lance Roberts, after…
The Rally May Have Just Peaked—But the Correction Could Look Different Than You Expect Lance Roberts opened the show with a direct answer: "Has the correction started? By all intents and measures,…
Lance Roberts argues that the stock market's recent advance has left it mechanically overextended and vulnerable to a corrective pullback. Despite repeated new highs in the S&P 500, breadth…
Lance Roberts, portfolio manager at RIA Advisors, returned from a trip to England to find the S&P 500 at all-time highs. The market had staged one of its most violent rallies in decades, erasing a…
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