What Market Narrative Do You Think People Are Overlooking?

Markets move on numbers, but they also move on stories.

That is something I find interesting. A stock does not always move just because earnings changed. It can move because investors start believing a new story about the future.

AI infrastructure is one example. Cybersecurity, energy demand, rates, small caps, and reshoring can all become narratives if enough investors start paying attention.

The tricky part is knowing whether a narrative is early, already priced in, or just hype.

For me, the best narratives are the ones that eventually show up in revenue, margins, guidance, or capex. If the story never reaches the numbers, it usually fades.

What market narrative do you think people are overlooking right now?

AI infrastructure, energy, cybersecurity, small caps, rates, or something completely different?