Eagle Financial

Sage

Songs of Experience: Reminiscences of a Strategist It's been 38 years since I began my career on Wall Street and the lessons I learned along the way from some all-time investment greats always hold true.

“Their utopia is myopia” - ouch!

assets.realclear.com

Normal, healthy, and…expected

Stock market corrections and economic recessions are both normal and healthy.

What’s not normal? 🚀 “To the moon!”

What if the hype doesn’t deliver?

Investors Are Suddenly Getting Very Concerned That AI Isn't Making Any Serious Money An increasing number of Silicon Valley investors and Wall Street analysts are starting to ring the alarm bells over the money spent on AI.

Large federal budget deficits are covered by debt issuance. And, historically, the bulk of new debt issuance has occurred during economic recessions. Not this time.

Another Hmmm is the tenor of the debt. T-Bills (bonds with maturities < 1 year) and T-Notes (2-10 year maturities) comprise 21% and 52%, respectively, of total marketable US Treasury debt outstanding. With an inverted yield curve, the US government is financing budget deficits with higher-interest rate, short-term debt!

Steeper Curve Coming? - Apollo Academy During recessions, Treasury issuance shifts to T-bills, partly because during recessions, short rates are low and T-bills are a cheap...

“About 90% of the world’s most advanced chips, including the main processors inside iPhones, mobile chipsets, AI GPUs, and computer processors, are made in Taiwan by Taiwan Semiconductor. Other TSMC chips are used in household appliances, automobiles, data center servers, and defense systems.”

- Tae Kim and Liz Moyer, Barron’s, 7/18/24

Surfing the yield curve?

TIFIN Marketing Automation

“But, AI!”

AI fever: Has it gotten too hot? | Capital Group AI-related stock prices have been soaring. Capital Group portfolio manager Chris Buchbinder explains why he is approaching AI investing with caution.