Keith McCullough, Founder & CEO of @Hedgeye Risk Management, joins Maggie Lake to explain why he believes the AI trade is already beginning to unwind — and why the next major market move may be a rotation away from today’s biggest winners. McCullough breaks down Hedgeye’s “Quad 4” outlook for the first half of 2027, a potential environment of slowing economic growth and slowing inflation. He explains why that backdrop has pushed him toward U.S. Treasury bonds and defensive sectors, and what investors should be watching as volatility returns to markets. The conversation also covers the growing credit and financing risks behind the AI boom, what credit spreads may be signaling about the economy and the Federal Reserve, Keith’s evolving views on oil and gold, and why investors can get into trouble by holding on too long to the assets that led the previous market cycle. Maggie and Keith also discuss leveraged funds, retail investor behavior, bond yields, corporate profits, inflation, and the signals that could determine where markets head next. 📘 GET OUR FREE AI GUIDE: How much of your portfolio already depends on the AI trade? Our free guide, Your Index Fund Is Betting Big on AI, can help you identify overlapping AI exposure across your investments: https://bit.ly/4zwinRM 📈 Is your portfolio still positioned for yesterday’s winners? Get a complimentary portfolio review and see how your allocation holds up if Keith McCullough’s rotation call is right: https://bit.ly/4e9LsJV 📈 GET A SECOND OPINION ON YOUR PORTFOLIO: Has the market rally — and the concentration in AI and mega-cap stocks — changed the balance of your investments? Request a complimentary, no-obligation portfolio review with an advisor in the Wealthion network: https://bit.ly/4e9LsJV MORE ON MARKET & PORTFOLIO RISK The Investment Risk Nobody Wants to Talk About | Steven Feldman https://www.wealthion.com/learn/the-investment-risk-nobody-wants-to-talk-about-steven-feldman/?utm_source=youtube&utm_medium=organic_social&utm_campaign=keith-mccullough&utm_content=desc-related-diversification-link Copper Supply and Demand: What the AI Buildout Means for the Market https://www.wealthion.com/learn/copper-supply-and-demand-ai-buildout/?utm_source=youtube&utm_medium=organic_social&utm_campaign=keith-mccullough&utm_content=desc-related-copper-link #Wealthion #KeithMcCullough #Hedgeye #StockMarket #TreasuryBonds Connect with us online: Website: https://www.wealthion.com Spotify Podcast: https://open.spotify.com/show/4wCAfhgUdspxeMqyi6KZkb Apple Podcast: https://podcasts.apple.com/us/podcast/wealthion-be-financially-resilient/id1566889716 X: https://www.x.com/wealthion Instagram: https://www.instagram.com/wealthionofficial/ LinkedIn: https://www.linkedin.com/company/wealthion/ Facebook: https://www.facebook.com/Wealthion/ #Wealthion #Wealth #Finance #Investing #PortfolioReview #InvestmentAdvice #FinancialPlanning #WealthManagement ________________________________________________________________________ IMPORTANT NOTE: The information, opinions, and insights expressed by our guests and our hosts do not necessarily reflect the views of Wealthion or the views of their respective employers. They are intended to provide a diverse perspective on the economy, investing, and other relevant topics to enrich your understanding of these complex fields.   While we value and appreciate the insights shared by our esteemed guests and hosts, they are to be viewed as personal opinions and not as investment advice or recommendations from Wealthion or their respective employers. These opinions should not replace your own due diligence or the advice of a professional financial advisor.   We strongly encourage all of our audience members to seek out the guidance of a financial advisor who can provide advice based on your individual circumstances and financial goals. Wealthion has a distinguished network of advisors who are available to guide you on your financial journey. However, should you choose to seek guidance elsewhere, we respect and support your decision to do so.   The world of finance and investment is intricate and diverse. It's our mission at Wealthion to provide you with a variety of insights and perspectives to help you navigate it more effectively. We thank you for your understanding and your trust.