Tech Capex, AI, and Changing Return Expectations

Click the link http://kalshi.com/r/LIN or download the Kalshi App and use code LIN to sign up and trade today!David Hay, Founder of Haymaker Publications and retired former co-CIO of Evergreen Gavekal, argues that American market dominance is fading and investors should shift toward international stocks, hard assets, and selective opportunities in places like China while taking profits on overextended positions.*This video was recorded on February 26, 2026.To get 5% off of your CoolWallet purchase, use my link: https://www.coolwallet.io/discount/davidcwSubscribe to my free newsletter: https://davidlinreport.substack.com/Listen on Spotify: https://open.spotify.com/show/510WZMFaqeh90Xk4jcE34sListen on Apple Podcasts: https://podcasters.spotify.com/pod/show/the-david-lin-reportFOLLOW DAVID HAY:Haymaker Substack: https://haymaker.substack.com/ David Hay's X (@Haymaker_0): https://x.com/Haymaker_0FOLLOW DAVID LIN:X (@davidlin_TV): https://x.com/davidlin_TVTikTok (@davidlin_TV): https://www.tiktok.com/@davidlin_tvInstagram (@davidlin_TV): https://www.instagram.com/davidlin_tv/For business inquiries, reach me at david@thedavidlinreport.comDISCLAIMER: This video is for informational and educational purposes only and does not constitute financial, investment, legal, or tax advice. Always conduct your own research and consult a licensed financial professional before making any investment decisions.The views and opinions expressed by guests are solely their own and do not represent the views of this channel. Any forecasts or forward-looking statements are based on personal opinions and are not guarantees of future performance.This channel may include sponsors or affiliates. Their inclusion does not constitute an endorsement, and the channel is not responsible for the performance, claims, or actions of any sponsor, affiliate, or third party.No content in this video should be interpreted as a solicitation to buy or sell any securities or assets. Investments carry risk, including the potential loss of principal.0:00 - Intro1:24 - Americans leaving the U.S.4:24 - End of U.S. market exceptionalism8:45 - Chinese stocks10:00 - David Hay’s top stock picks15:00 - Net foreign buying of U.S. equities17:08 - Global recession before 2027?19:08 - U.S. recession probability20:47 - U.S. dollar vs capital inflows22:03 - U.S. safe haven status eroding24:00 - Sell signal: cash levels at record lows25:45 - Gold vs. Treasuries28:18 - Mining shares performance33:37 - Silver34:30 - AI and unemployment36:36 - Assets that David Hay don’t like38:25 - Software stocks vs. AI41:26 - International stocks#stocks #economy #investing