Is The Stock Market Undergoing A 'Great Rotation'? | Michael Lebowitz

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**Michael Lebowitz** (0:30)
What we've seen is a rotation towards all of those out of favor sectors, all the value sectors, small cap, mid cap, dividend stocks, more conservative, basically non-Mag 7 stocks. The biggest question in my mind is, is this the trend for the year? Is this the roadmap? Should we be buying the mid caps, the small caps, the value stocks, the dividend stocks, getting out of some of the NVIDIAs, the Googles, the Metas, the stocks that really got us the big gains over the last few years?

**Adam Taggart** (1:16)
Welcome to Thoughtful Money. I'm Thoughtful Money Founder and your host, Adam Taggart, welcoming you here at the end of the week. For another Weekly Market Recap, this time featuring the, what, sports-tastic, I guess we'll say, portfolio manager, Michael Lebowitz. Mike, how you doing?

**Michael Lebowitz** (1:33)
Great, sports-tastic?

**Adam Taggart** (1:35)
It's just every time I try to pull you in, like for our conferences and stuff like that, you're always at some big sporting event. It's a passion of yours, clearly.

**Michael Lebowitz** (1:43)
I guess, I guess. Not today, though. I saved the day for you, Adam.

**Adam Taggart** (1:47)
Well, thank you. Well, let's be transparent about the day. Mike and I are actually recording on Thursday. Whatever the market's doing Friday, we're not going to be able to cover in today's discussion. The reason why we're doing that, folks, as a reminder is just because RIA, Lance and Mike's firm, is having their annual conference in Houston today, which I'll be attending. Very excited to be there. In fact, it'll be going on live while people are watching this video when it debuts. But we didn't want to leave you hanging, folks. We wanted you to, the folks that aren't there in person in Houston, we wanted you to still have something to recap the week, so that's why we're here recording now. All right, Michael, I guess first, do you recall the hotel where the conference is going on, just in case anyone's watching this in Houston and says, oh my gosh, I forgot it was today, I'm going to jump in my car and come on?

**Michael Lebowitz** (2:42)
Absolutely. It's the Hotel Sinesta, I think downtown, but if you go to our website, realinvestmentadvice.com, there's a huge link to it. If you look at our recent articles, you'll see links. There's plenty of links, go check it out. I think there's still a couple of tickets, a few tickets available.
I guess if you're CNS, it's too late, but. Well, no.

**Adam Taggart** (3:14)
If you live in Houston, hop in your car. I'm sure if they come knocking, we'll let them in.

**Michael Lebowitz** (3:18)
If you come knocking, we'll let you in.

**Adam Taggart** (3:20)
Okay. Sounds great. All right. Well, look, maybe let's start there. For the folks that don't make the conference today, can you give just a brief summary of the key points you plan to talk about there?

**Michael Lebowitz** (3:36)
Absolutely. The theme is we're going to talk about bonds, because everyone always wants to hear about bonds for hours on ends. On end. I will give not only my projection of what I think for bonds, but I think what I've created is a nice way for people to say, here's what I think, thus, this is where bonds should go.
It jobs with a lot of the stuff I've presented in the past, but I think it's really easy to use a DIY kit.

**Adam Taggart** (4:13)
The kind of a choose-your-own-adventure? I might not share Michael's views on inflation or whatever, but if for folks with my views on inflation, then it looks like bonds should do X.

**Michael Lebowitz** (4:23)
Exactly. It's a nice wrinkle to some of the other work we've done in the past. Then we'll talk about everyone's other favorite topic, the dollar and debasement.
I'm also going to do a little bit on how money is created, because I think that's very important. I think a lot of people don't understand that. It's my intention to bring some monopoly money and actually play out a little dollar creation for you.

**Adam Taggart** (4:54)