Bloomberg Surveillance · Friday, August 14, 2026
Julian Emanuel of Evercore suggests that despite a generally positive long-term stock trajectory, current market conditions exhibit complacency. He notes that the AI-driven bull market is approaching four years old and draws parallels to the late 1990s, highlighting that even in strong bull markets, there can be significant pullbacks.
“It has intensified and potentially elongated the upside. Julian joins us now for more. Julian, great to see you, Thank you for being here. So let's start there. There is this feeling even among bulls that this is as good as it gets. That's what we heard from Nikolai Tangin of the Norwegian Sovereign Wealth Fund.”
“So I think this is one of these times where given the rally that we've had, given the fact that the AI bull market is about to turn four years old, you have to just sort of step back and understand that these things have timeframes.”
“We're a little bit concerned about that bit of complacency.”