Darius Dale: Stocks To Soar MUCH Higher Than Investors Currently Expect?

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**Darius Dale** (0:54)
At some point between now and let's call it this time next year, markets are going to have to capitulate to the upside on these really digglesly low growth expectations, which will drag earnings expectations higher and market multiples higher, credit spreads lower, and this is how you wind up with an explosible market on risk assets.

**Adam Taggart** (1:18)
Welcome to Thoughtful Money. I'm its founder and your host, Adam Taggart. Of all the people I've interviewed since launching this Thoughtful Money channel, today's guest's portfolio management track record has been spookily accurate. The last time I interviewed him, which was back in mid-March, he had drastically reduced his long positions and declared himself, quote, ragingly bearish. And in the weeks that followed, the S&P plunged nearly 700 points to the post-Liberation Day lows. So how is he feeling about the markets now? To find out, we'll ask the man himself. We're very fortunate to welcome back to the program Darius Dale, CEO of 42 Macro, a top Wall Street leading macro forecasting and market timing service. Darius, thanks so much for joining us today.

**Darius Dale** (2:04)
You're too kind with these intros, man. I appreciate you, brother. Thank you so much. It's great to be here.

**Adam Taggart** (2:09)
Thank you. Well, look, it's nothing but the truth. I mean, I got to say it. I didn't burnish anything. It was just all true. Thank you for coming on the show in general here, Darius. Thank you specifically for coming on right now, because basically, as we were hopping on Zoom here, the Fed guidance was just released.
I know you took maybe a two nanosecond glimpse at it. Maybe we'll talk a little bit about it, but I know you got to do a lot of work to make sense of that for your clients, so we'll get through this interview as fast as we can. Also, anything that you say here related to that news, I just want to put a big asterisk on it, that you haven't had a chance to really digest it. We haven't watched the Jerome Powell press conference yet, so there's a lot we don't know.

**Darius Dale** (2:50)
Well, again, you're too kind. In my opinion, most of the work is done beforehand. It's about preparation in life, whether you're an investor or any other field of this one. Secondarily, our key takeaways from this Fed meeting as it relates to the dot-plot and updated summary of economic projections pertain more to 2026 pricing than they do to 2025, so irrespective of what Jay says in this press conference, it's highly unlikely to change our views.

**Adam Taggart** (3:15)
Okay. Well, we'll get to those views now. As I said in the intro there, last time we spoke, which was for the Thoughtful Money Spring Online Conference, which was back in mid-March, as I said, you were categorizing yourself as ragingly bearish, and that was after having been pretty darn bullish correctly for the previous two years. Since then, the markets plummeted, as I mentioned, and they've come roaring back. So are you bullish or bearish now or something else?

**Darius Dale** (3:44)
Yeah. No, I appreciate that. And I will give you a slight correction. Not pretty darn bullish. I really said on your program, I was as bullish as I'd ever been. I'm going back to the fall of 23 So now we were on the right side of that bull market beginning in January of 2023 Generally kept our clients on the right side of that via our KISS system. KISS finally started to take down risk in February of 2025 It got up to 100% cash, I want to say on March 3rd or March 5th of 2025, and was at 100% cash up until April 14th.