Thoughtful Money with Adam Taggart · Sunday, July 26, 2026
David Hay discusses a significant market risk that he believes is not being priced in: the repatriation of foreign assets currently invested in the U.S. He contrasts this potential force with Mike Green's passive capital flows, suggesting it could disrupt the market.
“Secondly, um, you've been on the channel, uh, I think your past two appearances, and you've talked about this, um, potentially really big risk in the market that the market just doesn't seem to be pricing in any way shape or form right now. And this is the risk of the repatriation of foreign assets that are invested here in America.”
“And, um, we, we, we sort of juxtapose this against, um, Mike Green's passive capital flows, which have been supporting markets for many, many years. And, um, you were thinking that this might be one of the, the forces out there, one of the few forces out there, that might be able to defeat the giant mindless robot.”