Sep. 15, 2025 12:39 PM ETTLT, XAUUSD:CUR, XAGUSD:CUR, BTC-USD, GBTC, SPX, DXY, SPY, NDX, QQQ, DIA, IVV, VOO, IWM, SP500, DJIShubhm Mitessh Thakkar338 FollowersSummaryUS equities and fixed income are at historically high valuations, with significant downside risk if stagflation materializes or the economy weakens.The S&P 500 and Nasdaq 100 trade well above long-term valuation averages, while US Treasury and corporate bond spreads are near historic lows.Bitcoin's risk/reward is currently unfavorable, with evidence suggesting its cyclical high may already be in, and better investment opportunities exist elsewhere.Gold and silver are significantly undervalued relative to global money supply, offering strong upside potential and warranting portfolio overweight versus US equities, bonds, and Bitcoin.spawns/iStock via Getty ImagesBrief/OverviewThis article is a sequel to my most recent article, where I talked about how the US economy stands at the precipice of a stagflationary next few years. I want to clarify once again thatThis article was written byShubhm Mitessh Thakkar338 FollowersI am Shubhm Thakkar, an MBA student at the Indian Institute of Management—Indore. I cleared the CFA Level 1 examination that was held in May 2023 and the CFA Level 2 conducted in November 2024. I am also a candidate for the CFA Level 3 examination to be held in February 2026. IIM Indore consistently ranks in the Financial Times Top 100 Schools for MBA/ MiM.I have experience publishing on Seeking Alpha as part of my internship at Que Capital, which was a subsidiary of AlmaStreet Capital LLC—an entity that previously published on this platform. At AlmaStreet, I followed a GARP Approach - Growth At a Reasonable Price. I intend to use the GARP approach and a Value Investing approach to write my reports on Stocks and ETFs, varying depending on the industry that the stock is a part of and the stage of the business cycle.Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.CommentsRecommended For You