Every single business on the planet should be looking at its board composition and corporate governance structure to figure out just how vulnerable they may be. OpenAI’s self-immolation should be a lesson.
September's ARM IPO could be a “CFP” for markets if it breaks the current everything AI consensus (aka “bubble”). There are many reasons to think it could, because it’s basically Masayoshi Son rolling it with big aplomb in the Tech Casino.
Nvidia and Telsa trade on hopes and expectations, FOMO and huge PE multiples. They are very different investment propositions but reflect the bubble market. Maybe it’s time to revert to dull, boring, predictable returns in fixed income secured by real assets?
For years I’ve found reasons to avoid certain big tech stocks – but the market has largely been right. I might be clever, but the market is smarter. What’s the future likely to look like?
A 4 week old French AI has achieved a first funding round value of $240mm and that’s as cheap as chips (literally). Meanwhile, AT1/CoCo zombie bonds return from the grave of bad financial ideas, confirming Blain’s mantra: The Market Has No Memory!
AI has become the markets new, new thang/bubble as investors pile into the new, new narrative forgetting the fundamental rules of investment are about generating dull, boring, predictable returns which look frothy in hot stocks, negative yields in bonds, thus positive returns from real assets stand out!
“Prepare to be assimilated species 5618.”
AI is dominating the headlines. Its either the greatest threat to mankind ever (as has been every economic revolution since someone discovered fire), or its going to make us all better off. The answer probably lies somewhere in the middle.. but it’s bound to raise uncertainty.
Microsoft would rather do business in Europe than the UK when it comes to global gaming. Name me a famous European game? BIG TECH is turning stale. Bring on the next new, new thing.
