Tepp Talks: A podcast with David Tepp

Artificial intelligence has relentlessly inundated every facet of our lives, sparking a massive surge in energy demand to power this new technology. At the same time, the Iran conflict has critically disrupted global energy markets. Energy has always been top of mind for nations around the world, but a clear shift is now taking place: those who do not invest appropriately will almost certainly fal...

By most metrics, the U.S. stock market is exorbitantly expensive. The S&P 500’s price-to-earnings ratio remains well above historical averages, and valuations in the technology sector are stretching into territory that makes even seasoned investors anxious. And yet, many buyers remain fully committed. This leaves investors and analysts arguing over whether current prices are justified by earni...

Now that we are six months into the second Trump administration, it is worth revisiting the economic philosophy that I refer to as “TrumpBessenomics.” The term captures the fusion of Donald Trump’s populist, growth-oriented agenda with the strategic and data-driven approach of Treasury Secretary Scott Bessent. While it is too early to evaluate the effectiveness of "TrumpBessenomics", wha...

In an age when investors obsess over quarterly earnings, AI hype, and the Federal Reserve, it’s easy to overlook what actually makes the global economy tick: the inputs that power, build, and sustain growth. By David Tepp Published in Advisor Perspectives October 13, 2025 Sources : Absolute Strategy Return, “From Weaponised Trade to Weaponised Capital:, written by Ian Harnett, April 3, 2025 Absolu...

Our first quarter outlook described 2026 as a story of steady growth in the first half, with the potential for inflation to re-emerge later in the year as fiscal stimulus, deregulation, and improving business conditions combined to reignite demand. The Iran conflict, which began on February 28th with coordinated US and Israeli strikes targeting Iranian military infrastructure, compressed and scram...

The leap from traditional computing to quantum computing is a revolutionary economic event. Quantum computing could alter productivity, industrial structure, capital allocation, and even the balance of global power. The transformation won’t happen overnight, but investors who wait for proof may find they have waited too long. By David Tepp  Published in Advisor Perspectives January 12, 2026 Source...

Gold’s rally may have grabbed more headlines, but both silver and the yellow metal warrant closer analysis. Both commodities are surging—gold setting fresh highs above $2,500 an ounce and silver crossing $50 for the first time—and yet, neither may have reached their ceiling. By David Tepp, Forbes Councils Member, for Forbes Finance Council. Published December 9, 2025

​For generations, retirement followed a familiar script. You worked for 30 or 40 years, paid off the mortgage, collected a pension, turned on Social Security and stepped into a well-earned life of leisure. That model made sense in its time. Today, the structure that supported that version of retirement has largely disappeared, yet many people still think of retirement as a single date circled on t...

For many decades, international trade flourished with the United States as the lead architect. Global supply chains stretched across continents, capital flowed freely, and commodities were treated as cyclical inputs rather than strategic assets. With nations now turning their focus inward, however, that framework is no longer applicable. By David Tepp for Advisor Perspectives. Published March 9, 2...

The United States and Israel have launched coordinated strikes targeting Iranian leadership and key military infrastructure. Iran has responded with asymmetric retaliation, launching batteries of missiles to disrupt shipping and energy flows throughout the region. While this perilous conflict could certainly spiral into a prolonged regional confrontation, there is another outcome that receives far...

"Set it and forget it" investing has been one of the most widely espoused ideas in modern personal finance. The challenge is that as investment accounts grow larger, the passive approach often turns into oversimplification. By David Tepp, Forbes Councils Member, for Forbes Finance Council.

Over the past year, markets have navigated an unusually complex environment. Investors have been forced to weigh slowing growth against persistent inflation concerns, shifting monetary policy expectations, elevated geopolitical risk, and ongoing policy uncertainty. Entering 2026, the dominant question is how the next phase of global growth may unfold. SOURCES: Absolute Strategy Research, “Economic...

While there have been plenty of twists and turns, the first half of 2025 unfolded pretty much as anticipated.  Looking ahead, our base case is for renewed expansion into 2026. SOURCES: Alpine Macro, “Eyes on US Labor But Profits Ultimately Rule”, written by Bassam Nawfal, September 16, 2025 Alpine Macro, “It’s Not Just Gold That Shines”, written by Kelly Xu, July 10, 2025 Absolute Strategy Return,...

Here are six  actual questions from six  actual  clients that I believe best capture today's economic mood.