The Biggest Risk Markets Face Is on No One's Radar Right Now - David Hay (Video)
This is a 1 February 2026 published video from host Adam Taggart talking with David Hay, founder & former CIO of Evergreen Gavekal, sees an even greater risk — one that practically no one else is paying attention to.
Right now, the “giant mindless robot” of passive capital flows appear to be the most important macro trend in keeping stock prices rising. So many worry that a stalling — or reversal — of these passive flows is the top risk to markets.
There are a growing number of reasons why foreign capital is likely to start draining out of the US financial markets. And it could reach a volume where those flows are even bigger than the giant mindless robot of domestic passive flows. This would severely tank the prices of many US financial assets. To learn why, David has prepared a slide presentation that you simply must watch.
https://youtu.be/hUd9vt6GNNk
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