Tech Gap, AI Disruption, and Defense Supercycle Insights
We covered a lot of ground this week on @excessreturnpod with new interviews featuring Jim Paulsen, Vitaliy Katsenelson, and Joseph Shaposhnik. @CultishCreative and I highlight the best moments and break down the biggest lessons. https://t.co/Hklp9wx0tH • The growing gap between tech and the rest of the economy • How investors should think about AI disruption in software • Why humility may be more important than ever • The potential for a long-term defense spending supercycle • Why more policy “juice” could be on the way
Record Large‑Cap vs Small‑Cap Spread Signals Hidden Opportunities
“The spread between large-caps and small-caps is the widest we’ve ever seen.” Rob Arnott joins us on @excessreturnpod to discuss historic valuation gaps, AI expectations, investing in periods of conflict and why the biggest opportunities may be where investors aren’t looking....
AI Capex Boom Outpaces Global GDP, Prompting US Shift
“There’s just not enough GDP to support all of them.” @dampedspring returns to @excessreturnpod to break down the funding test behind the AI Capex boom, how the Iran conflict is being priced, and why he’s shifted away from US assets. https://t.co/wooKnQeQKH
Diversify Beyond 60/40 to Reduce Lifetime Consumption Risk
“Risk is the uncertainty of lifetime consumption.” We sit down with @cullenroche to discuss his new book Your Perfect Portfolio. We start with a basic 60/40 portfolio and then examine, step by step, the case for adding international, factors, gold, private assets,...