“I'm far more worried than others about a serious market correction — if the market is pricing in 10%, I'd say it's more like 30%; it could be six months, could be two years. AI is real and in total will pay off, just like cars and TV paid off, but most people involved in it didn't do well, and a lot of the money going in now will probably be lost.”

The two-year window runs to October 2027. As of September 2026 the S&P 500 sits near record highs (~7,600) after an ~8% drawdown in late February–March 2026 that did not reach the conventional 10% correction threshold.