A Wealth of Common Sense. Investor, author, and host of Animal Spirits podcast, focuses on simplifying finance for everyone; has backed over 200 companies.
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On today’s show, we discuss:
Why Dr. Ankur Crawford thinks the AI bubble talk is overblown
How supply chain consolidation gives the AI build-out unusual staying power
Why the earnings estimate matters more than the multiple in AI valuations
The case for power and industrials as overlooked AI infra...
Apparently June is the month to call a bubble if you’re a seasoned fund manager or prognosticator.
Meb had Jim Grant on his podcast last week calling AI one of the greatest bubbles of all-time:
Jim Chanos says the AI capex is bigger than the dot-com bubble:
Jeremy Grantham loves calling for another bubble:
So does Ray Dalio:
I received a question this week about Dalio’s latest market musings:
OK, Ray Dalio...
Households have dealt with a lot of hurdles in the 2020s, economically-speaking.
First there was the pandemic which screwed up supply chains and led to an unthinkable amount of government spending to keep people and businesses afloat.
That led to the highest inflation levels in four decades.
Then the Russia-Ukraine war sent gas prices through the roof.
We also had tariffs to deal with last year.
The Iran war this year sen...
A reader asks:
The “Relentless Bid” of 401ks has inflated stock prices and dampened volatility for years. As the population ages, target-date funds are swapping stocks for bonds, and people have to take RMDs. At what point does this cavalcade of selling drive stock prices down, and become the “Relentless Beg” (or “Relentless Ask” if you prefer)? Or is wealth so top-heavy that this pheno...
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One of my favorite parts about writing over the years is the regular feedback I get from readers.
People send me questions, ideas, charts, movie recommendations, books, old magazines and the occasional grammar/spell check.1
A reader recently shared with me that he’s been collecting Wall Street comics for a few decades. He wanted to send me the entire collection, clipped straight from newspapers and financial publica...
