Ep. 1944: Bubble Trouble?

AI stocks are booming, valuations are stretched, and capital spending is surging. Does that add up to a bubble—or just another story investors cannot reliably time? Tom and Don walk through Fidelity’s warning signs without pretending anyone can ring a bell at the top.The practical conclusion is less exciting and more useful: stay diversified, keep realistic expectations, include the fixed income your plan needs, and do not mistake a recent gain for money the market owes you forever.Then a caller pressure-tests the flexible 5% withdrawal idea, followed by questions on delaying Social Security after leaving work and why convertible bonds add complexity without much benefit for individual investors.00:00 Time compression and the AI boom02:42 Is artificial intelligence in a bubble?04:51 Earnings, cash flow, and valuation signals07:14 Capital spending and the rate-cycle argument08:56 Fidelity’s verdict—and the diversified response11:13 The greed hidden inside market timing13:04 How flexible is a flexible 5% withdrawal?19:56 Delaying Social Security after stopping work23:44 Convertible bonds and a very expensive C-share fundQuestions? Comments? Click!