Brief Summary
Alright folks, this video is about the public account hitting $3.6 million, a look at stocks like Fubo and SoFi, and reactions to insights from market experts like Morgan Stanley's Mike Wilson, Tom Lee, and Stephanie Link. Key takeaways include:
- The public account is aiming for $4 million, driven by Meta and AMD.
- Fubo is showing bullish signs due to potential Disney deal and upcoming football season.
- SoFi's fundamentals are strong, with potential for long-term growth if managed well.
- Market insights suggest a possible Russell 2000 rally and the importance of monitoring Wall Street's cash positions.
Intro and Vacation Story
The video starts with Jeremy announcing that his public account has reached $3.6 million. He shares a funny story from his vacation in Playa del Carmen, Mexico, where he had a private dinner in a cave with a saxophone player serenading him while his wife was away. He also mentions he mostly unplugged during the vacation, posting only a few times on social media.
ThousandX Stocks Fourth of July Sale
Jeremy announces a Fourth of July sale for ThousandX Stocks, offering full access to the software platform for $49, usually priced at $99. This includes all features and educational content. Members will also receive a Steel membership card in the mail. There's also a deal for $1,500 off a three-year package.
Public Account Update and Future Outlook
The public account has broken through to $3.6 million, a significant increase from $1 million 33 months ago. Jeremy adds $500 every Friday to this portfolio. He believes the portfolio is headed to $4 million, especially if Meta and AMD perform well in the upcoming earnings season. Key holdings include Nike, Palantir, SoFi, and Fubo, but Meta and AMD are the major drivers. He anticipates hitting $4 million soon, followed by milestones of $5 million, $10 million, and beyond, focusing on doubling the portfolio value.
Fubo Stock Analysis
Fubo experienced a 9% increase, driven by a large buyer purchasing over 500,000 shares. This raises questions about whether someone knows something about the Disney deal. While buying calls could be riskier due to potential scrutiny for insider information, a large share order might be seen as less suspicious. Short-term, Jeremy is bullish on Fubo due to improving numbers, the approaching football season, and the potential Disney deal. He believes the Hulu deal is likely to go through, making the cards increasingly favorable for Fubo investors.
SoFi Stock Analysis
SoFi is described as a "runner and a gunner," with strong fundamentals and skyrocketing revenues and customer base. CEO Anthony Noto aims to keep the company asset-light, partnering with big banks rather than competing. SoFi's Galileo platform is a valuable asset. Jeremy sees SoFi as an exciting stock for the next 5-10 years, provided Noto manages it well through future recessions, of which he expects two in the next decade.
Reacting to Morgan Stanley's Mike Wilson
Mike Wilson discusses the equity market being more fundamentally driven than many appreciate. He notes that markets bottom on bad news and top on good news. The Russell 2000 could rally as rate cuts approach, especially if the economy holds up. Wilson points out that earnings revision breadth is showing a V-shaped recovery. He suggests that interest rate-sensitive sectors like manufacturing, housing, and autos could see a recovery in 2026. Tariffs are viewed as a consumption tax, and settling on a 10% rate could help companies mitigate the impact.
Reacting to Tom Lee on CNBC
Tom Lee discusses the "most hated V-shaped rally" and the importance of the VIX. Jeremy recalls that Tom Lee started following him on X after he posted about the VIX being a buy signal. A VIX above 50 is always a great time to buy stocks, while a VIX above 30 is a good time, but with potential for better opportunities. Lee notes that underlying inflation is lower than expected, and the bond market anticipates the Fed cutting rates. He believes the US debt is sustainable due to hidden value on the balance sheet and the potential for stable coins to replace foreign holders of treasuries.
AI and Market Dynamics
The discussion touches on AI, with comparisons to the dot-com bubble. The key is whether companies can achieve positive ROIs from AI investments. Different companies have different angles and goals for AI. As long as AI helps companies save money or improve market position, they will continue to invest. However, diminishing returns could eventually lead to a slowdown in AI spending, potentially in the late 2020s or early 2030s.
Reacting to Stephanie Link and Market Strategy
Stephanie Link has reduced her cash position to 1%, indicating she is almost fully invested. She believes the market is acting better due to increasing clarity on tariffs, geopolitics, and inflation. She expects better-than-expected earnings, potentially double the current 5% growth forecast. Link is watching the labor market but believes inflation has made progress, suggesting the Fed may cut rates in September. She favors financials, tech, and industrials, noting that financials are still attractively valued and will benefit from deregulation.
Wall Street Cash Positions and Market Outlook
Jeremy explains that Stephanie Link being at 1% cash is a signal that she's pretty much all in. The more Wall Streeters that reach this position, the harder it will be for the market to go higher. He recalls a similar situation in January/February when Wall Streeters were low on cash, leading to a market downturn. While there's $7 trillion in cash on the sidelines, only a fraction typically enters the stock market. If the market continues to be bullish, many Wall Streeters will become fully invested, making it a good time to hedge portfolios.
