Market Brief NOV 2024 // OUTLOOK 2026

The Bullish Paradox

Boardwalk Capital defies market fear with a strong 2026 outlook, clashing directly with Michael Burry's AI "Amortization" warning.

2026

Target Horizon

Market Sentiment

FEAR

QQQ, SPY, and Crypto saw double-digit sell-offs. Fear & Greed Index plunged to 1.

Broad Decline

AI Reality (Nvidia)

$57B

Record Q3 Revenue (+62% YoY). Demand for GPUs is far outstripping supply.

Record Highs

1

Extreme Fear

Global Market Index

Optimistic

Corp Earnings 85% Beat

S&P 500 & MAG7 posting record results.

Fed Policy Pivot to QE

End of QT. Restarting asset purchases.

Valuations 28x vs 50x

Current P/E vs Dot-Com Bubble.

A structural shift opening the $12 Trillion retirement market to digital assets.

Impact

Stablecoin Issuance

Liquidity

Retirement Access

The Bear Case Michael Burry's Warning

$176B

Est. Understated Depreciation (2026-28)

The Claim: Tech giants are extending hardware lifespans (3y → 6y) to artificially inflate earnings.

The Risk: An "AI Bubble" built on accounting tricks rather than sustainable growth.

The Verdict

Correction is temporary. 2026 remains Bullish.