The news of the day is the OpenAI/AMD deal which is similar to the Nvidia/Intel deal. Both are excellent deals on the surface and win wins. The markets seems to be happy as AMD stock is soaring as is the NASDAQ 100 in pre-market. I am sure there will be more cries that this is the Dotcom Bubble all over again. It’s not. That’s only from lazy, ignorant pundits who don’t do their homework. If I had a nickel for every time someone used the word “bubble”, I would have a lot of nickels! I am planning on doing a longer post and video to fully explain why this is not Dotcom 2.0. It’s just not atop my priority list right now. We have our annual in person client appreciation event this week and then I need to work on my Q3 report to clients after that. Travel to Vegas and Chicago follow with a family vacation in late November.
The markets start the week on solid footing although we know that we have some seasonal headwinds for a few weeks. Interestingly, I am finding fewer and fewer things I want to buy as I prune holdings. So many folks remain under-invested, mostly due to politics as I hear it. When I ask them what would cause them to invest cash, they usually give a political answer about a change in power which is not going to happen until 2029. Of course, Congress has a good chance to flip in 13 months, but that just gives us gridlock for two years.
Regardless of what party is in power and who the president is, I know this. We download data. We analyze data. We model data. We execute on data. In my business, I really don’t care about the geopolitical nonsense. It is here now. It has been here for hundreds of years. It will continue to be here. Social media is the problem. AI will be a bigger problem and bigger solution.
On Friday we bought EPU, more PDBC. We sold EWY, PINK, WRBY, some XLRE, some TSLA, some EEM, some QQQ
