Asks if market churn creates lasting leadership shift and what it says about the economic path ahead.
speaker1
Jim Karen
Identifies tariffs, taxes, and deregulation as drivers of market broadening and cyclical leadership, calling these structural and durable forces.
Asks about implications for industrials, commodities, economic growth pace, and inflation - whether a high nominal growth world persists.
speaker1
Jim Karen
Inflation should be contained by productivity boost from capex and investment; labor market softness from tariffs is temporary and will fade mid-year.
Notes bond market not concerned about long-term inflation, dollar rangebound, and asks where AI trade fits with these themes.
speaker1
Jim Karen
AI adoption fits in value sectors by making companies more efficient and productive, unlocking economic value in better-priced stocks.