Asks if current market weakness is worse than Tom Lee expected, referencing his earlier warnings about volatility and Washington policy.
Host
Tom Lee
Parts have been worse than expected, specifically crypto, which suffered due to a lack of leverage and a FOMO-driven rotation into gold and silver.
Questions the consensus view of GOP losing the House not being negative for markets.
Host
Tom Lee
Agrees it's consensus, and a GOP-held House could be a positive surprise.
Asks if markets will test any new Fed Chair.
Host
Tom Lee
Yes, markets tested Yellen and Powell early on. The confirmation process and first FOMC meeting create uncertainty, making the middle of the year potentially bumpy.
Cites Lee's historical stat about S&P performance after a strong January start, then questions the indicator's validity.
Host
Tom Lee
Defends the indicator as very telling, showing an 18% average gain after such a start versus a 5% average loss otherwise.
Suggests AI stock valuations could be a headwind and mean revert.
Host
Tom Lee
Acknowledges mean reversion could work.
Asks if Bitcoin will reach Lee's past target of $75k or if $40k is a buy level.
Host
Tom Lee
Cites advisor Tom Demark's view that time and price aligned for a crypto bottom this weekend. Believes crypto should follow if fundamentals remain good.