There is a raging debate regarding the dominating role that AI is playing in the stock market. One side urges extreme caution believing we are in a classic bubble. This position is based on incredible returns, high valuations, soaring investor sentiment, and signs...
I’m hard pressed to recall a period when one theme dominated conversation to the extent that AI currently represents the global obsession. AI company CEOs argue for guardrails while the President calls concerns regarding this technology a hoax. Speaker of the House Mike...
Having spent more than fifty years in the financial world, I am rarely stunned by what is happening in the economy and financial markets; surprised yes, confused often, but seldom flabbergasted. However, today I really am stunned by what is going on with...
There is an iconic scene in the 1967 movie The Graduate in which a family friend tells Benjamin at his college graduation party that there is just one word he needs to know regarding his future – “Plastics.” Well, in recent years, the...
The year 2025 is surprising many seers because we have enjoyed moderate economic growth despite all of the headwinds created by wars, tariffs, sticky inflation, uncertainty regarding immigration, and so on. However, lurking below the surface is an interesting phenomenon that is of...
As shown below, just shy of 40% of the S&P 500 market capitalization consists of just ten stocks which represents an all-time record of concentration. The next chart indicates that these companies sell at a significant P/E premium to the remainder of the...
