Interview with David Cervantes - The Stock Market in 2026

In this WealthVest Bull and Bear podcast episode, David Cervantes of Pine Brook Macro discusses his success on Substack, attributing it to the platform's long-form capabilities, community growth, and support from mentors. He also talks about his approach to macro analysis, which has evolved beyond traditional indicator-based methods due to the pandemic's impact on historical correlations. The conversation explores the shrinking labor market, the influence of immigration policies, and the potential impact on consumption. Cervantes shares his 2026 outlook, suggesting that the market isn't in a bubble despite the AI-driven narrative, and emphasizes the importance of productivity and margin expansion for future earnings growth. The discussion touches on inflation, potential policy shifts, and the fiscal situation, including the possibility of entitlement reform. Cervantes also shares his thoughts on Argentina's economic challenges and the use of a swap line.