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TME with more on the bubble and bust of AI.
The washout is largely complete
Technology remains under pressure, but the market structure has changed materially. Technicals are deeply oversold, while positioning across hedge funds, CTAs, leveraged ETFs and retail has reset aggressively. With much of the forced selling now behind us, the bar for a meaningful rebound is becoming much lower.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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