Recorded on February 10, 2026. Dr. Marc Faber joins Andy Millette and Steve Yang to lay out a defensive 2026 playbook built around one blunt warning: asset holders may be in for a tougher year. Faber explains why he is keeping expectations low, why he thinks the S&P can end the year roughly flat while still delivering a frustrating experience for investors, and why he expects foreign markets, emerging markets, and parts of Europe to outperform the US. He also breaks down how he thinks about gold ownership and positioning, why most portfolios still under-own gold, and why energy and…
