"While much attention has been paid to the political noise surrounding the U.S. election and its implications for global trade, the bigger geopolitical story in 2025 is the fragmentation of global markets driven by competing regulatory regimes and security concerns. This is particularly evident in technology and AI, where supply chain risks from geopolitical tensions are prompting a rethink of global equity allocations."
"Balancing near-term inflation risks with potential threats to employment presents a 'no-risk-free path."
"As an investor in several AI names, I’ve long been a believer in the transformative potential of artificial intelligence. But even with that conviction, I shared the market’s early-2025 concerns about the return available on the massive sums of money being spent on AI."
"It requires a great deal of boldness and a great deal of caution to make a great fortune; and when you have got it, it requires ten times as much wit to keep it."
"Balancing near-term inflation risks with potential threats to employment presents a 'no-risk-free path."
"As an investor in several AI names, I’ve long been a believer in the transformative potential of artificial intelligence. But even with that conviction, I shared the market’s early-2025 concerns about the return available on the massive sums of money being spent on AI."
"It requires a great deal of boldness and a great deal of caution to make a great fortune; and when you have got it, it requires ten times as much wit to keep it."