S&P 500 Has ‘No Chance’ As AI Mania Unravels, Warns Fund Manager | Bill Smead

Click the link http://kalshi.com/r/LIN or download the Kalshi App and use code LIN to sign up and trade today!Bill Smead, Founder, CIO, Smead Capital Management, discuss the state of the stock market, the shift in the interest rate environment, and where he is looking for value today.Watch Bill's last interview: https://youtu.be/Dl0BFtRVeis*This video was recorded on June 5, 2026.To get 5% off of your CoolWallet purchase, use my link: https://www.coolwallet.io/discount/davidcwSubscribe to my Briefs channel: https://www.youtube.com/@DavidLinReportBriefsSubscribe to my free newsletter: https://davidlinreport.substack.com/Listen on Spotify: https://open.spotify.com/show/510WZMFaqeh90Xk4jcE34sListen on Apple Podcasts: https://podcasters.spotify.com/pod/show/the-david-lin-reportFOLLOW SMEAD CAPITAL:Website: https://smeadcap.com/X (@SmeadCap): https://x.com/SmeadCapFOLLOW DAVID LIN:X (@davidlin_TV): https://x.com/davidlin_TVTikTok (@davidlin_TV): https://www.tiktok.com/@davidlin_tvInstagram (@davidlin_TV): https://www.instagram.com/davidlin_tv/For business inquiries, reach me at [email protected]: This video is for informational and educational purposes only and does not constitute financial, investment, legal, or tax advice. Always conduct your own research and consult a licensed financial professional before making any investment decisions.The views and opinions expressed by guests are solely their own and do not represent the views of this channel. Any forecasts or forward-looking statements are based on personal opinions and are not guarantees of future performance.This channel may include sponsors or affiliates. Their inclusion does not constitute an endorsement, and the channel is not responsible for the performance, claims, or actions of any sponsor, affiliate, or third party.No content in this video should be interpreted as a solicitation to buy or sell any securities or assets. Investments carry risk, including the potential loss of principal.0:00 - Intro.1:48 - A new era of higher rates and Friday’s selloff4:54 - The AI capex boom7:16 - Echoes of past manias10:48 - SpaceX, IPOs, and tech valuations15:47 - Positioning, home ownership, and inflation22:24 - Energy and oil thesis27:38 - Gambling, passive investing, and index outlook33:47 - Financials, homebuilders, and long-term themes#investing #stocks #economy