Peter Thiel's $74 Million Warning: A Historical Insight into Market Valuations and Portfolio Performance.

Billionaire Peter Thiel's hedge fund, Thiel Macro, sold all its stocks in Q4 2025, including Tesla, Microsoft, and Apple. This move suggests Thiel lost confidence in these stocks and the market. Historically, when Thiel made a similar move in 2019, the S&P 500 returned 91% over the next five years. However, the S&P 500 is still trading at a historically expensive valuation, with a CAPE ratio of 39.2 in February. This suggests that the market may perform poorly from such high valuations.