A Stock-Market Crash Foretold
https://www.project-syndicate.org/commentary/trump-economic-policy-could-lead-to-us-stock-market-crash-by-desmond-lachman-2025-08
On the eve of World War I, when it was already apparent that the geopolitical order was crumbling, the stock market remained buoyant. There is every reason to believe that the US stock market's current sky-high valuations, despite obvious geopolitical and economic risks, are vulnerable to a sudden shift in sentiment.
https://www.project-syndicate.org/commentary/trump-economic-policy-could-lead-to-us-stock-market-crash-by-desmond-lachman-2025-08
On the eve of World War I, when it was already apparent that the geopolitical order was crumbling, the stock market remained buoyant. There is every reason to believe that the US stock market's current sky-high valuations, despite obvious geopolitical and economic risks, are vulnerable to a sudden shift in sentiment.
Brace for a crash before the golden age of AI
https://www.ft.com/content/a76f238d-5543-4c01-9419-52aaf352dc23
History teaches that tech revolutions follow a predictable cycle of installation followed by creative destruction.
https://www.ft.com/content/a76f238d-5543-4c01-9419-52aaf352dc23
History teaches that tech revolutions follow a predictable cycle of installation followed by creative destruction.
The ‘Ghosts of 2007’ and the graybeard ‘Nifty 50’: BofA looks at the rare situation in markets and finds ominous parallels to the GFC and the dotcom bubble
https://finance.yahoo.com/news/ghosts-2007-graybeard-nifty-50-201540276.html
https://finance.yahoo.com/news/ghosts-2007-graybeard-nifty-50-201540276.html
AI Is Holding Up the Sky. The Rest Fell Back to Earth
https://www.bloomberg.com/opinion/newsletters/2025-08-19/ai-is-holding-up-the-sky-the-rest-are-back-to-earth
Since the release of ChatGPT in November of 2022, earnings per share of the MAG 7 have risen 125% (through 8/18), while earnings per share of the other 493 companies comprising the S&P 500 have risen just 4%.
https://www.bloomberg.com/opinion/newsletters/2025-08-19/ai-is-holding-up-the-sky-the-rest-are-back-to-earth
Since the release of ChatGPT in November of 2022, earnings per share of the MAG 7 have risen 125% (through 8/18), while earnings per share of the other 493 companies comprising the S&P 500 have risen just 4%.