Market Correction Now Likely Given Wall Street's "Nothing Can Go Wrong" Hubris | Lance Roberts

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**Lance Roberts** (0:45)
Yeah, the markets have just completely detached from all the underlying economic data now, and they're just, the market's going higher, I got to be in. And that's also part of that worry I am starting to build up a bit, is that we're now moving back into that very extreme level of sentiment, which is why, and again, when you start getting to this point to where nothing else matters, that's kind of concerning for the markets, at least near term. I'm not saying the market's going to crash, but I do think that there's a really, really, a more elevated potential of a correction than not.

**Adam Taggart** (1:29)
Welcome to Thoughtful Money. I'm Thoughtful Money founder and host, Adam Taggart. Welcome you back here at the end of the week for another weekly market recap featuring my very good friend, the Twitter-pated portfolio manager, Lance Roberts. Lance, how are you doing?

**Lance Roberts** (1:43)
Okay, I'm about to ask you why Twitter-pated?

**Adam Taggart** (1:47)
Well, because you and I spent a lot of time on X, but Twitter-pated, it means obsessed. And I'll tell you why I picked that word in a moment, but first, I want to give a hat tip to Carlos, who very kindly after last week, Lance, sent me a whole list of really interesting adjectives to use for Lance, for you. Yeah, email is titled Adjectives for Lance. So I've got now a nice treasure trove of great words. I was familiar with Twitter-pated and actually kind of surprised I hadn't pulled it out beforehand. But again, Carlos, thank you for that. And I picked it because you're a gentleman who I think to your strength is obsessed with getting to the truth of the markets, not just narrative or beliefs, but actually what is the data telling us? And I got to tell you, Lance, I know you don't really read the comments much. A lot of people thought you were beaten up on me too much last week. And as I said last week, but I just wanted to underscore this week. Look, folks, Lance and I are brothers. Brothers root each other, they challenge each other, they fight.
We do it to hopefully bring out the best in one another. And as I said last week, Lance is my ride or die. There's no bad will between us. We're brothers and very much appreciate it. So if you see it, just take it in the context in which it's meant, which is just, again, Lance, he'll push me and I'll push him back, as you see.

**Lance Roberts** (3:15)
It's funny. It's the same way on our daily radio show that we host, as well as that we pick on each other all the time with me and my partners and other advisors. And you're always kind of cutting each other down. And it's just, it's just, you know, kind of, again, like you said, it's like brother love, but I don't remember what we were arguing about last week, but I've slept since then. So that may be part of the reason.

**Adam Taggart** (3:36)
Yeah. I think everything is the answer to that question, but yeah.

**Lance Roberts** (3:42)
Well, anyway, yeah, it's all in fun. So if you're watching the videos, don't take any of that personally at all.

**Adam Taggart** (3:51)
So yeah, it's like professional wrestling. After the fight, they all go out for a beer together. But really, I mean, it's all done with the right intentions. But I do think, Lance, I want to give you credit for this at the heart of it all. And I know on your end, because you are passionate about this, you are Twitter-pated about this. It is your trying to divine as best you can from the data, what is actually happening and trying to not let our biases influence us when we're the other.

**Lance Roberts** (4:21)
Absolutely right. Speaking of wrestling, sad news this week that Hulk Hogan passed away. And of course, that follows Ozzy Osbourne and Malcolm Jamal Warner. And as I was telling my wife after Malcolm Jamal Warner tragically drowned, and Ozzy Osbourne passed away, I asked my wife, I said, well, these things come in threes and I'm hoping I'm next. But apparently, I'm not. So it was unfortunately Hulk Hogan. And so I'm here for another week with you at least.