Chubb: Retail Investors Driving Market Amid Institutional Concern

Timothy Chubb says investors have been “emboldened” by a strong 1Q earnings season, but recent revisions downward are a headwind for valuations. He notes that retail investors are driving the market as institutional players sit out. He doesn’t have much confidence in trade resolving quickly, but expects some sectors to hold up well, including AI. On the other hand, he thinks we’ll start seeing tariff impacts in shipping in the next few weeks.

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