Jordi Visser: Market resilience signals a bull run, rising earnings make stocks cheaper, and global trends highlight interconnected growth | The Pomp Podcast

Global market strength and rising earnings signal a bullish trend despite high valuations and economic concerns.

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Add us on Google by Editorial Team May. 30, 2026

Key takeaways

• The market’s resilience to bad news and positive reaction to good news signifies a bull market.
• Minor pullbacks or consolidation are expected, but significant rises in oil and inflation are unlikely.
• Rising earnings are making the stock market cheaper despite high valuations.
• The S&P equal-weighted index reaching an all-time high shows broad market strength beyond AI stocks.
• The Buffett indicator suggests a bullish market due to growing earnings and profit margins.
• Tech companies have been leading in profit margin growth for the past 17 years.
• A global generational bull market is underway, supported by international factors.
• Strong performances in Korea and Japan highlight global market health.
• A declining savings rate can indicate optimism about jobs and the stock market.
• Pension funds play a crucial role in stock market investments.
• The MSCI World Index ex-US at an all-time high underscores global market trends.
• The tech sector’s profit margins have been a consistent growth driver.

Guest intro

Jordi Visser is a veteran macro investor with more than 30 years of Wall Street experience and the author of the VisserLabs Substack. He previously served as President and Chief Investment Officer at Weiss Multi-Strategy Advisers.

Market dynamics and investor sentiment

• The market’s ability to handle good news well while barely budging on bad news indicates a bull market.

  — Jordi Visser

• Current market behavior reflects a bull market due to its resilience to negative news.

• The worst we will see in the near term is some kind of consolidation or minor pullback without significant increases in oil and inflation.

  — Jordi Visser

• Market consolidation or minor pullbacks are expected, but no major disruptions are anticipated.
• Rising earnings are making stocks cheaper despite concerns about overvaluation.

• Despite concerns about overvaluation, the stock market is actually getting cheaper as earnings are rising.

  — Jordi Visser

• The S&P equal-weighted index’s all-time high indicates broad market strength.

• The S&P equal weighted index is at an all-time high, indicating broader market strength beyond just a few AI stocks.

  — Jordi Visser

• Broader market strength is evident beyond the tech sector’s influence.

The Buffett indicator and tech sector trends

• The Buffett indicator is more bullish than bearish, reflecting the growth of earnings and profit margins.

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  — Jordi Visser

• The Buffett indicator suggests a bullish market due to increased earnings and profit margins.
• Tech companies have been leading in profit margin growth for 17 years.

• Profit margins are primarily growing in tech companies, which has been a trend for seventeen years.

  — Jordi Visser

• The tech sector’s consistent growth in profit margins is a significant market driver.
• The concentration of profit margin growth in tech highlights sector-specific trends.
• Understanding the Buffett indicator is key to interpreting market sentiment.
• Earnings growth in the tech sector influences broader market dynamics.

Global market perspectives

• We are experiencing a global, generational bull market driven by various international factors.

  — Jordi Visser

• A global generational bull market is supported by international economic factors.
• The MSCI World Index ex-US at an all-time high underscores global market trends.

• The MSCI World Index ex-US is also at an all-time high, suggesting a global bull market.

  — Jordi Visser

• Strong performances in Korea and Japan highlight global market health.

• Countries like Korea and Japan are performing well despite their reliance on imports, indicating strong global market health.

  — Jordi Visser

• The resilience of certain economies points to interconnected market dynamics.
• Global market health is evident in the performance of import-reliant countries.

Consumer behavior and market optimism

• The decline in the savings rate can be correlated with increased optimism about jobs and the stock market.

  — Jordi Visser

• A declining savings rate may indicate consumer optimism about economic conditions.
• Market optimism is reflected in consumer spending patterns and savings behavior.

• One of the big mistakes that people make is the savings rate should decline when people are feeling optimistic about their jobs.

  — Jordi Visser

• Understanding consumer behavior is crucial for interpreting market sentiment.
• Pension funds play a significant role in stock market investments.

• Pension funds represent a significant portion of the population’s investment in the stock market.

  — Jordi Visser

• Institutional investors like pension funds are key players in market dynamics.

Broader economic implications

• The market’s ability to withstand bad news suggests underlying economic strength.
• Rising earnings contribute to a more favorable valuation environment for stocks.
• Global market trends indicate a shift towards a more interconnected economic landscape.
• The tech sector’s dominance in profit margin growth reflects broader economic shifts.
• Consumer behavior, such as savings rates, provides insight into economic sentiment.
• Institutional investors have a substantial impact on market trends and stability.
• Understanding global economic indicators is crucial for assessing market conditions.
• The interplay between consumer optimism and market performance is significant.

Tech sector’s influence on market dynamics

• The tech sector’s profit margins have been a consistent growth driver.

• Tech companies have been leading in profit margin growth for the past 17 years.

  — Jordi Visser

• The concentration of profit margin growth in tech highlights sector-specific trends.
• Tech companies’ performance is a key indicator of broader market health.
• The tech sector’s influence is evident in the overall market’s resilience.
• Understanding tech sector trends is crucial for interpreting market dynamics.
• The tech sector’s consistent growth impacts investor sentiment and market behavior.
• The role of tech in profit margin growth underscores its economic significance.

Institutional investors and market participation

• Pension funds play a crucial role in stock market investments.

• Pension funds represent a significant portion of the population’s investment in the stock market.

  — Jordi Visser

• Institutional investors like pension funds are key players in market dynamics.
• The impact of institutional investors on market trends is often overlooked.
• Understanding the role of pension funds is essential for assessing market participation.
• Institutional investors contribute to market stability and long-term growth.
• The influence of pension funds on market behavior is significant.
• Institutional investment strategies shape market trends and investor sentiment.

Economic indicators and market forecasts

• The worst we will see in the near term is some kind of consolidation or minor pullback without significant increases in oil and inflation.

  — Jordi Visser

• Market consolidation or minor pullbacks are expected, but no major disruptions are anticipated.
• Economic indicators suggest a stable market environment in the near term.
• Understanding economic indicators is crucial for making informed market forecasts.
• The interplay between economic indicators and market behavior is significant.
• Market forecasts are shaped by current economic conditions and trends.
• The role of economic indicators in market analysis is essential for investors.
• Accurate market forecasts depend on a thorough understanding of economic indicators.

Global market health and interconnected dynamics

• Strong performances in Korea and Japan highlight global market health.

• Countries like Korea and Japan are performing well despite their reliance on imports, indicating strong global market health.

  — Jordi Visser

• The resilience of certain economies points to interconnected market dynamics.
• Global market health is evident in the performance of import-reliant countries.
• The interconnected nature of global markets influences economic trends.
• Understanding global market dynamics is crucial for assessing economic health.
• The impact of international factors on market trends is significant.
• Global market health reflects broader economic shifts and trends.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.