Generational Bear Market Ahead, 35–45% Drop; Gold in ‘Early Innings’ | Ted Oakley & Michelle Makori

Michelle Makori, President & Editor-in-Chief of Miles Franklin Media, interviews Ted Oakley, Founder and Managing Partner of Oxbow Advisors, an Austin-based investment advisory firm managing approximately $3.2 billion in client assets. Oakley says the stock market has entered the “euphoria stage” and warns that today’s extreme valuations could ultimately lead to a generational bear market, potentially driving equities 35% to 45% lower. He explains why the AI and data-center boom may be repeating patterns from the dot-com era, which sectors appear most vulnerable, and why his firm is reducing exposure to major technology companies, including Microsoft. The conversation also examines America’s roughly $40 trillion debt burden, the possibility of stealth inflation and Oakley’s expectation that the U.S. could face eight to ten years of stagflation. He explains why investors may need greater exposure to hard assets, including gold, energy, critical minerals, uranium and real estate, to preserve purchasing power through the next economic cycle. In this episode of The Real Story with Michelle Makori: Why the stock market has entered the euphoria stage The risk of a 35% to 45% generational bear market AI, semiconductors and comparisons with the dot-com bubble Why Oxbow Advisors is selling Microsoft The S&P 500, passive investing and extreme valuations America’s $40 trillion debt burden Stealth inflation and the risk of prolonged stagflation Gold as a hedge against dollar depreciation Uranium, energy and critical-mineral opportunities Portfolio diversification and wealth preservation Protecting and transferring intergenerational wealth Follow Miles Franklin Media on X: https://x.com/MilesFranklinCo Follow Michelle Makori on X: https://x.com/MichelleMakori Follow Ted Oakley and Oxbow Advisors on X: https://x.com/Oxbow_Advisors Learn more at: https://oxbowadvisors.com 00:00 Coming Up 01:29 Introduction 02:42 Euphoria Stage Explained 04:50 Timeline to Bear Market 07:00 Why 40 Percent Drop 07:50 AI and Semis Bubble Risk 10:04 What Triggers the Fall 11:58 When to Sell Winners 14:15 Buffett Cash Signal 16:46 Sponsor Break 18:23 Passive Flows Countercase 23:55 Portfolio Positioning Now 26:18 Gold Bottom at 4000 28:27 How to Buy Gold 28:58 Gold Miners Picks 30:00 Silver Selloff Return 31:26 Copper Holdings Strategy 32:17 Debt Inflation Thesis 35:29 Best Hard Assets Mix 36:34 Uranium Supply Crunch 37:42 Iran War Oil Outlook 42:18 Energy Stocks Watchlist 44:49 Stagflation Market Risks 47:01 Wealth Preservation Rules 49:17 Gold Portfolio Role 51:06 Balance Final Message 52:12 Where To Follow Ted 👍 Like, 🔔 Subscribe, and Stay Informed Join Miles Franklin Media for expert interviews, market insights, and real-time coverage of gold, silver, Bitcoin, and global economics. Hit the bell to get notified the moment new content drops – don’t miss a move in the markets. ___________________ Miles Franklin: 📞 Call us: 1-952-929-7006 📧 Email us: [email protected] 🔗 Website: https://milesfranklin.com/ ▶️ YouTube: https://youtube.com/MilesFranklinCo?s... 📱 X: https://x.com/MilesFranklinCo 📸 Instagram: Instagram: milesfranklinmedia 💼 LinkedIn: LinkedIn: miles-franklin-9a6632369 📘 Facebook: http://fb.com/MilesFranklinCo 📩 For media inquiries, contact: [email protected] 📺 About Miles Franklin Media Join Miles Franklin Media for unfiltered financial and economic news and insights. Through expert interviews and real market intelligence, we cut through the noise and challenge the mainstream narrative. Anchored in the principles of sound money, we uncover the truth about money, markets, macroeconomics, geopolitics, and power – delivering credible insights to help you protect your wealth, future, and freedom. 🏦 About Miles Franklin Miles Franklin is a trusted leader in wealth preservation, with over $11 billion in precious metals sales since 1989. Specializing in gold and silver, we help clients safeguard their wealth with real assets that stand the test of time. ___________________ Disclaimer: The views and opinions expressed in this video are those of the individual speakers and do not necessarily reflect the views of Miles Franklin Precious Metals, its affiliates, owners, anchors, producers or hosts. This content is provided for informational and educational purposes only and is not intended as financial, legal, or investment advice. Nothing said in this video should be construed as a recommendation to buy or sell any financial asset. You should always consult with a qualified financial advisor, legal professional, or tax expert before making any investment decisions. Investing involves risk, including the potential loss of principal. By watching this video, you agree that neither the hosts, guests, nor Miles Franklin Media are responsible for any investment decisions you make based on the information presented. Use of this content is at your own risk.