Stansberry Investor Hour

On this week's Stansberry Investor Hour, Dan and Corey welcome Mike Barrett back to the show. Mike is the editor of Select Value Opportunities and senior analyst for Extreme Value. He has decades of cash-flow modeling and valuation expertise that he uses to find underappreciated, high-quality growth stocks. Mike kicks things off by discussing President Donald Trump's tariffs, their implication in the context of broad market cycles, and a potential 2026 low. He explains that he believes stocks have limited upside from here because of extreme positive sentiment and rampant overvaluation. And because there's so much uncertainty, Mike advises investors to make sure they have high-quality businesses in their portfolios. He also points out that the most overvalued stocks today are the defensive ones, but that could change once the tariff situation eases. (1:47) Next, Mike breaks down his personal investing philosophy and why he uses macroeconomic factors to look ahead only a few weeks rather than longer term. He a