The excellent Michael HArtnett at BofA on the new AI bubble.
Zeitgeist I: “I mean, if you’re going to lose your job and be replaced by AI in the next few years, might as well own some AI as a hedge, no?”
Zeitgeist II: “Bubbles not easy, put plenty of investors out of business. But this one you getting paid by fat yields in cash & bonds to ignore for now. Why no FOMO yet.”