This year, we once again present our 2026 outlook as a retrospective from the future – a future in which the AI boom turned to bust.Next week, please join me for a Webcast on Wednesday, December 17 at 10:30 AM EST (3:30 PM GMT, 4:30…

The odds have risen that we have reached a “Metaverse Moment” – a situation where investors punish AI companies for increasing capex. This warrants greater caution towards AI stocks specifically, and the broader S&P 500 more…

Special Report

We examine past capex booms which turned into busts. Our analysis suggests that AI is following the same script as those ill-fated booms. 

In the absence of official government data, investors are turning to alternative sources to gauge the direction of the US economy. Our analysis of this data suggests that the economy has continued to expand at a moderate pace over…

Fresh off a month of boning up on all things AI, we walk through a high-level Q&A discussing AI capex and how much the AI investing boom is really contributing to US growth.

The rush to build AI infrastructure is based on a false premise: that there are significant advantages to being the first to come to market.

Precious metals, corporate credit, and tech stocks are all showing signs of late-cycle euphoria. We identify various trigger points that investors should monitor to turn more bearish.

Special Report

Investors should not count on buoyant growth in the ASEAN and Indian economies because of manufacturing relocation away from China in the next couple of years.