On this week's Stansberry Investor Hour, Dan and Corey are joined by their colleague Gabe Marshank. Gabe is the editor of the new Market Maven newsletter, an advisory focused on asymmetric risk-versus-reward opportunities in the stock market. He's also senior analyst on Stansberry's Investment Advisory and Commodity Supercycles.

Gabe kicks things off by describing how he got his start in finance, including discovering the world of hedge funds and working for investing legends Leon Cooperman, Steve Cohen, and David Einhorn. He shares what he learned from each investor and how those lessons have affected his current strategy. Gabe also discusses how today's financial world has changed since the 20th century, why the idea of value investing from Benjamin Graham's era is outdated, bankruptcy being capitalism's greatest tool, and what the dot-com boom tells us about future AI success stories...

We're at a particular moment in time where we are on the cusp of a huge flourishing of new industries, right? Nobody can deny that AI is going to have this absolutely transformative impact on the stock market. But if we look back to the dot-com boom... the companies that have taken the most advantage of [the Internet] didn't even exist at the peak in the stock market. And so I think we'll see much of the same in AI.

Next, Gabe dives deep on Apple. He says the company has bungled its lead on agentic AI in phones, similar to how IBM fumbled its lead with PCs. As he points out, most of the top 10 stocks in the S&P 500 Index change each decade. So he's looking forward to finding what companies could replace today's big dogs. This leads Gabe to critique Microsoft and Amazon Web Services as "at risk," advise listeners not to worry about a potential AI market crash, and explain why he's looking outside of tech for opportunities today...

When I play basketball, I don't want to play against my friends. I want to play against my kids' friends because I can dunk all over them. And it's the same in the market... There is nothing that we can say about Nvidia that hasn't already been said, right? But we can look at other areas of the market... There is an S&P 493 of stocks out there that are big-cap, great companies. That, I think, is where we should be spending most of our time.

Finally, Gabe says consumer discretionary would be a good sector to investigate for future winners, as it's likely to benefit from AI transformations. He emphasizes that AI does not just mean chatbots and large language models – it's machine learning, too. Industries like onshore oil drilling have been using that technology already to improve their efficiency. Gabe then closes the show out with a conversation about copper prices and the commodity industry as a whole...

One of the things that I always look for and I love is when you see a bunch of bankruptcies in a commodity industry, because that's your sure sign the commodity's coming up... Like if you look at what happened in the coal industry, you had loads of bankruptcies and so supply came offline. And even [as] the demand continued to decline, supply declined quicker, and you had a spike in prices. I think we're seeing that in a couple of industries right now.

Click on the image below to watch the video interview with Gabe right now. For the audio version, click "Listen" above.

(Additional past episodes are located here.)

The transcript is coming soon.

This Week's Guest

Gabe Marshank is the editor of the Market Maven newsletter, an advisory focused on asymmetric risk-versus-reward opportunities in the stock market. He's also a senior analyst and contributor to the Stansberry's Investment Advisory and Commodity Supercycles newsletters. Prior to joining MarketWise, Gabe spent more than 20 years on Wall Street, working directly with some of the greatest investors of all time. This includes Leon Cooperman at Omega Advisors, Steve Cohen at SAC Capital, and David Einhorn at Greenlight Capital. Gabe has been responsible for managing billions of dollars in capital and generated more than $1 billion in profits for his firms' investors.