5 Reasons 2026 Will Be A Wild Ride, Likely Catching Investors By Surprise | Michael Lebowitz

December 27, 2025

AI Summary

5 min read

🎙️ The Voices & The Context

The Format: This weekly market recap blends host-led analysis with expert guest insights on surging precious metals, inflation trends, and 2026 volatility risks in a cautious analytical discussion.
The Format: An interview.
The Key Players:
- Guest: Michael Liebowitz – Portfolio manager at Real Investment Advice (RAA), known for sharp technical charts and historical market parallels, delivering prudent warnings on overextended rallies.
- Host: Adam Taggart – Founder of Thoughtful Money, recovering from flu with a friendly cat co-pilot, fostering dynamic back-and-forth on risks amid holiday cheer.

🗝️ Key Themes & Topics

The episode dissects overheated markets, potential corrections, and macroeconomic shifts heading into 2026, emphasizing prudence over euphoria.

Topic 1: Silver's Vertical Surge and Crash Risks – Hosts warn of silver futures topping $76/oz, driven by industrial demand (solar, data centers) and supply deficits, but mirroring past booms (1979-80 Hunt Brothers squeeze, 2011 peak) ended by CME margin hikes or interventions; miners lagging signals speculation.
Topic 2: Inflation Cooling and Fed Response – CPI dips to 2.7% via lagging shelter costs deflating; services disinflating offsets tariff shocks; expect more rate cuts than markets price (>1), aiding bonds but tied to j

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What you'll learn

1 `(00:00)` **🎙️ Introduction: Michael Liebowitz**
2 `(03:30)` **Silver & Precious Metals Surge**
3 `(14:43)` **Hedging Strategies for Precious Metals**
4 `(23:48)` **2026 Disinflation Outlook**
5 `(30:25)` **Midterm Elections & Economy**
6 `(44:25)` **Bonds Update**
7 `(51:51)` **Stock Market Technicals & AI Bubble**

+ Full timestamped outline available in the app

Show Notes

2025 started out with some market uncertainty. But once Liberation Day was past us, things rose pretty smoothly through the rest of the year.2026 is looking to be a much more wild ride.It's a mid-term election year. Tariffs may get struck down by the Supreme Court. Concerns about the AI bubble are growing. The yen carry trade may be in jeopardy.These are just a few of the destabilizers that could give Wall Street the yips in coming months.Portfolio manager Michael Lebowitz and I discuss the impact higher volatility could bring to stocks, as well as his outlook for the silver price, inflation, and bond yields. And as usual, he shares his firm's latest trades.For everything that mattered to markets this week, watch this video.

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