While most analysts are turning cautious or even pessimistic, Fundstrat co-founder and veteran strategist Tom Lee (@fundstrat) is once again sounding the strong call that "the bull market is far from over." In his latest interview, he bluntly stated: the market is currently in a misunderstood "supercycle," and investors' misjudgment of inflation, the yield curve, and the AI cycle is leading to systemic mismatches. Tom Lee believes that an inverted yield curve does not signal a recession but is instead a result of changing inflation expectations. Companies are dynamically adjusting their business models, with profitability far exceeding market expectations. "Time is the friend of great companies and the enemy of mediocre ones," he said. As for the AI wave, he emphasized that this time is different from the internet bubble of the 1990s—back then, capital expenditure was focused on overbuilding fiber optics, whereas today's AI is about functional upgrades. Nvidia chips are in demand far beyond supply, and capital expenditure is even "lagging behind innovation." Looking ahead to the year-end market, he predicts the S&P 500 index will rise to 7,000–7,500 points, with financial stocks, small-cap stocks, and AI-related sectors making a strong comeback. As for crypto assets, he remains bullish—Bitcoin is severely underallocated and could reach $100,000–$200,000 by year-end. Ethereum is expected to be the biggest beneficiary, driven by stablecoins and asset tokenization, potentially rising to $9,000–$12,000 by January next year. Tom Lee also believes that market concerns about inflation and geopolitical risks are overestimated. Unless oil prices surge to $200, systemic shocks are unlikely. The Fed's tightening cycle is nearing its end, with rate cuts possibly starting in December, which would reignite liquidity. "When everyone thinks the top is near, the top won't come," he reminded investors not to lose long-term confidence due to short-term volatility. For those who missed out on the rally, he suggests using dollar-cost averaging to gradually re-enter the market. As he summed up with his classic quote: "Crisis is composed of danger and opportunity—most people only see the danger, but smart money is always looking at the opportunity."