Stocks Are "As Expensive As I've Ever Seen Them" | Ted Oakley

December 11, 2025

AI Summary

5 min read

🎙️ The Voices & The Context

The Format: The episode is a hosted discussion between Adam Taggart and Ted Oakley, featuring a reflective tone as they delve into market trends and personal anecdotes.
The Key Players:
- Adam Taggart: The founder and host of Thoughtful Money, guiding the conversation with insightful questions.
- Ted Oakley: High net worth financial advisor and managing partner of Oxpo Advisors. He brings extensive experience and a wealth of knowledge about market conditions.

🗝️ Key Themes & Topics

Market Valuations and Predictions:
- Ted discusses the high market valuations and the potential for a market correction, emphasizing that the current state resembles the "eighth or ninth inning" of a game, suggesting that a downturn may be imminent.
Investor Complacency:
- Both hosts highlight the complacency among investors, particularly those who have never experienced a real bear market since the 2008 financial crisis. Ted warns that this complacency sets the stage for a significant market correction.
Economic Forecasts:
- They explore the upcoming economic landscape, touching on potential slowdowns in employment and the effects of aging demographics on the market, particularly concerning baby boomers liquidating assets.

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What you'll learn

1 `(00:00)` **🎙️ Introduction: Ted Oakley**
2 `(01:01)` **Current Market Conditions**
3 `(01:39)` **Market Outlook for 2025**
4 `(02:03)` **Guest Introduction and Discussion Setup**
5 `(05:01)` **Market Valuations and Future Trends**
6 `(06:40)` **Market Corrections and Future Predictions**
7 `(09:00)` **Understanding Bear Markets**

+ Full timestamped outline available in the app

Show Notes

Short of a dramatic surprise in the next few weeks, the markets should end 2025 with another big double-digit positive return, for third year in a row.A string of three-peats like this is quite rare in markets. Which raises the question: Can the momentum last in 2026?Or will the market's returns start to mean revert.To discuss, we have the good fortune of welcoming back to the program high net worth financial advisor Ted Oakley, Managing Partner and Founder of Oxbow Advisors.Ted thinks stocks are as expensive as he's ever seen them in his long career. And while he admits no one knows when the market top will be in, he's pretty confident we're in the 8th or 9th inning of the bull market at this stage.

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