Mike Preston

What's More Likely: A Rally Or Rout From Here? | New Harbor Financial

Preview:Adam Taggart hosts New Harbor Financial partners Mike Preston and John Loader for a monthly market check-in focused on whether the next big move in equities is a rally or a rout. The discussion centers on the AI / semiconductor complex: both guests argue the market is built on extreme earnings expectations, questionable capex economics, and increasingly fragile assumptions about returns on AI spending. Their base view is that the market can still push higher in a final blow-off move, but that the bigger risk is a severe correction if AI earnings expectations or capex enthusiasm crack.

Fourth Turning To Turn The Dollar Into A Wrecking Ball? | George Gammon

Preview:George Gammon argues that the world is in a Fourth Turning-style breakdown where weak institutions, social unrest, and credit stress are pushing the dollar higher, which in turn pressures foreign currencies, foreign borrowers, and dollar-funded assets. Adam Taggart and the New Harbor team largely agree on the macro setup: a strong dollar is a major risk, private credit is a growing concern, markets are extended, and precious metals remain a long-term hedge even though gold and silver have recently been hit hard.

Is The Market Dangerously Expensive Now? | Kevin Muir

Preview:Adam Taggart interviews Kevin Muir about why today’s market looks dangerously expensive despite strong recent performance. Muir argues valuations are stretched, concentration is extreme, AI capex is being overread, and the Fed is less supportive than the market assumes. He favors defense overall, but is constructive on oil, energy stocks, gold, and miners.

A.I. Mania Creating Twin Bubbles In Stock Prices AND Earnings | New Harbor Financial

Preview:Adam Taggart hosts New Harbor Financial’s Mike Preston and John Lodra for a monthly macro/market update. Their core message is that the market has become extremely narrow, AI/semiconductors are driving a late-cycle style rally, and both valuations and earnings expectations around AI look stretched. They think the internet/tech analogy fits: the technology is real and transformative, but the market may be badly ahead of itself.

The Bad Times Happen When Market Valuations Are Too Rich...Like Now | New Harbor Financial

Preview:Adam Taggart and New Harbor Financial argue that US stocks are still extremely expensive even after a sharp V-shaped rebound, while their own positioning has only modestly increased because they see risk as high and prefer selective exposure, hedging, and diversification. The conversation also pivots into retirement planning, Roth conversions, behavioral mistakes, and why capital preservation and goal-based planning matter more than chasing maximum upside.

Miracle Turnaround? The US Industrial Economy Is Now Booming DESPITE High Oil Prices | Craig Fuller

Preview:Craig Fuller argues that U.S. freight and industrial activity have sharply improved, led by data-center buildouts, tax incentives, natural-gas advantage, and defense spending, with the Iran war not hurting— and possibly helping—domestic industrial demand. A second segment from Mike Preston says the market is near highs, remains structurally overvalued, but could squeeze higher before a larger eventual drawdown.

VanEck's Q2 2026 Market Outlook: Time To Bargain Hunt | Jan van Eck

Preview:Jan van Eck argued that AI capex and enterprise adoption are still early, private credit and BDCs look oversold, and gold remains a long-term hedge despite near-term volatility. He stayed constructive on India and Bitcoin on a pullback, while flagging fiscal deficits and higher rates as the main macro risk.

Oil To Collapse To $30/Barrel After Iran War Ends? | Doomberg

Preview:Doomberg argues the Iran war has created a near-term oil shock, but that once the conflict ends oil should ultimately collapse as suppressed supply returns, demand destruction bites, and fuel switching accelerates. The later panel from New Harbor is more cautious technically: energy and metals have rallied, but markets remain fragile and dependent on how the war evolves.

Does A "Lost Decade" For Stocks Lie Ahead? | New Harbor Financial

Preview:New Harbor Financial argues that the market is setting up for a more volatile, lower-return regime, with current tactical weakness concentrated in the cap-weighted S&P, tech, software, and Bitcoin, while energy, gold/silver, utilities, and some value-oriented sectors have been relatively strong. They see Iran-war headlines, AI skepticism, private credit stress, and stretched valuations as overlapping risks, but they are not calling for an immediate collapse; instead they are hedged, underweight equities, and watching key technical levels for confirmation or reversal.

'Highly Likely' We'll See A True Bear Market In 2026 | New Harbor Financial

Preview:Adam Taggart hosts New Harbor Financial’s John Lodra and Mike Preston for a year-end market discussion. The team is cautiously bullish near term on equities because breadth is improving and their indicators are still green, but they think the bigger 2026 setup likely includes a blowoff top, a later correction, and higher volatility. They also argue that precious metals have already delivered a major move and that many holders should consider trimming or hedging gains rather than assuming the rally will continue uninterrupted.

A Market Rotation Is Underway As Capital Begins To Leave The AI Trade | New Harbor Financial

Preview:Adam Taggart hosts New Harbor Financial’s John Lodra and Mike Preston in a Thanksgiving-week market update focused on a possible rotation away from the narrow AI trade. Their core view is that the recent Nvidia wobble may be less a terminal AI bust and more a leadership change, with Google, healthcare, biotech, pharma, and select metals/miners beginning to attract capital. They think the market’s short-term tone improved after the Fed signaled a December cut may still be on the table, but they remain cautious because breadth is weak, valuation is stretched, and the regime is still fragile.

Is The Stock Market Now The Most Overvalued It's Ever Been? | New Harbor

Preview:Adam Taggart hosts John Lodra and Mike Preston of New Harbor for a monthly market review centered on stretched equity valuations, Fed easing, credit stress, and precious-metals positioning. The guests argue the market remains liquidity-driven and vulnerable to a blowoff or reversal, while still showing some short-term bullish momentum; they also stress disciplined hedging rather than trying to call exact tops.

History Tells Us This Bubble In Stocks Will Not End Well | New Harbor Financial

Preview:This is a monthly market outlook interview with New Harbor Financial on Adam Taggart’s Thoughtful Money. The guests argue that U.S. stocks are extremely overvalued, but the market’s trend and momentum are still intact, so they are not calling for an immediate crash. They are underweight equities, favor non-U.S. stocks, and are using hedges and covered calls rather than exiting completely. They are similarly constructive but tactical on gold and silver: bullish on the longer-term trend, but calling for trimming, hedging, and rebalancing after a very strong run. They also think Fed rate cuts are a near-term tailwind, though history says cutting cycles often end badly and could eventually shift into recession/stagflation.

"Strong" Q2 GDP Growth Not Actually As Robust As It Sounds? | New Harbor Financial

Preview:The discussion argues that the strong-looking Q2 GDP print is distorted by trade/import noise rather than a clean acceleration in underlying demand, while the broader market remains in a powerful uptrend that the guests think is still intact for now. The hosts also expect the Fed to hold rates steady, see the recent trade-deal headlines as bullish but potentially late-cycle fuel, and favor continuing to participate in equities while tightening risk controls. They remain constructive on precious metals and miners, and cautiously positive on Bitcoin, but frame both as areas where speculation and crowding require discipline.

Stocks Likely To Run Even Higher Before The Top Is In | New Harbor

Preview:Adam Taggart hosts a New Harbor check-in focused on whether the U.S. stock market is already topping or can still run higher first. Mike Preston and John Lara argue valuations are extremely stretched, but they think breadth is improving and that the market may still have room to push higher in the near term before a larger correction arrives.

How To Invest In The Volatile Trump 2.0 Era | New Harbor