This is how the bull market ends | Michael Gayed, Lead Lag

Michael Gayed is the founder of the Lead Lag Report and manages multiple funds and ETFs. He joined Phil Rosen for a deep-dive on the Japan carry trade, the risks to investors, how to hedge against outlier events, what comes next for the AI trade and more.This episode is sponsored by Amberdata: https://Amberdata.ioSubscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - Intro0:26 - Japanese carry trade3:25 - Japan leverage, rates5:18 - Oil’s currency impact7:08 - Carry trade backstop7:52 - Portfolio positioning10:15 - Oil price outlook11:25 - Amberdata13:12 - Japan policy errors16:17 - Global equities impact17:40 - AI trade risks20:16 - Lagged productivity gains22:11 - AI’s political impact23:59 - Hyperscaler capex25:54 - Groupthink 27:02 - Consensus bullishness28:30 - Michael’s work Disclosure: Brokerage services provided by Open to the Public Investing Inc, member FINRA & SIPC. Investing involves risk. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. See terms of Match Program at https://public.com/disclosures/matchprogram Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.#podcast #investing #markets #macro #stocks #bitcoin #fed