The AI Selloff Looks Like a Bear Trap. Follow the Bottleneck Instead.
One stop remains in our AI series, and it’s the one folks rarely think about.
Medium Size Me
At $773.55, I moved to medium-sized short $SPY.
Position: Short SPY (M)
The Defeat of Value Investing
Position: None
My Comment of the Day
Dougie Kass
I couldn’t disagree more with Joe Terranova on Halftime now (I am not posting on Twitter!).
Though I am not high on large cap tech my disagreement is not that I don’t think AI related stocks will begin to outperform.
It is the degree of confidence/hubris that he is expressing in his view that the AI momentum trade will resume.
Position: None
VIDEO: Construction, Meta and Your Other Office Hours Questions Answered
Plus, Microsoft, SpaceX and why we’re not chasing the obvious names.
Programming Note
I have a business luncheon — out from noon to about 1:30 PM
Position: None
Doug Kass: Move Over Warsh, Nvidia Might Be Lender of Last Resort
Let’s look at who is really the most powerful banker in the world right now.
Putin Reportedly Floats Three-Way Peace Talks
Axios is reporting Russian President Vladimir Putin told White House envoy Steve Witkoff on Wednesday that he “agrees in principle” resuming trilateral peace talks between Russia, Ukraine and the U.S. to end the war, according to Russian and U.S. officials.
Recommended Viewing
A great MRKT Call today with Dan and Carter.
Lets go to the tape.
MRKT Call – Wednesday, October 21st
Position: None