Is AI the Bubble Du Jour?

Stokes’ Managing Partners start by revisiting a point from last week’s episode on down and sideways markets and whether they’re bullish or bearish on a go-forward basis. They’ll also join the discourse on the debt ceiling bill, look at the beginnings of what could be the era of AI, and continue the weekly Fed conversation.

Key Takeaways

[00:28] - Looking at our down and sideways market [03:48] - What happened with the debt ceiling deal? [10:20] - Are we entering the AI bubble era? [21:39] - Our weekly Fed update

Links

Nick Maggiulli: Why Down & Sideways Markets are Bullish Cullen Roche: CBO estimates debt ceiling deal will reduce the deficit by 0.2% of GDP Market Sentiment: NVDA is trading at 37x its revenue (P/S) and 202x its earnings (P/E) Charlie Bilello: Top May stock returns Charlie Bilello: A look back at extremes price-to-sale ratios in 2020 Mark Zandi: Over 50% experiencing B2B sales declines Bloomberg: Fed Signal for Rate Pause Takes Pressure Off Hot Jobs Report Lawrence McDonald: Processing the duration/interest rate risk situation

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