Are we headed for Tech Boom 2.0? There are considerable parallels between the tech boom in the early 2000s and the AI boom of the last year.
In May, the AI stocks continued to lead the charge, pushing stock markets higher. Our international portfolio outperformed given our exposure to those themes, our tactical portfolios outperformed as international stocks rose considerably more than Australia stocks.
The Reserve Bank of Australia has held rates again and hasn't added a hawkish bias but its rhetoric is less patient:
It's amazing how two economists can see the macroeconomy so differently.
For 13 years, this website has tracked the decline and fall of Australian policymaking. We have been astounded at how low politics and policy can go at every turn, but in actuality, this is a reflection of our age.
A couple of notes from BCA make some good points about the prospects for Chinese growth.
China recently re-sparked a metals boom with more announcements of stimulus. We are joined by David Llewellyn-Smith today as we explore the stimulus, what is real and what is a mirage. View the presentation slides Click here to subscribe to our YouTube channel to be notified when this and future ...
In this week’s podcast Nucleus Wealth's Chief Investment Officer, Damien Klassen, looks at the growing mania around the boom in AI and the similarities in macro events to the tech boom in 1999. Agenda: Technological Macroeconomic similarities Societal change View the presentation slides Click here ...
Albert Edwards at Societe General is always worth reading.
While Albo is busy spending $27bn of your money on industrial bandaids, existing manufacturing continues to go bust at an alarming pace:
Yesterday, RBA Governor Bullock restated last month's interest rate guidance in ongoing evidence to Australia's parliament
All of the GDP partials have been released, suggesting that Wednesday's Q1 national accounts will show a deepening per capita recession, led by the household sector.
In this week’s podcast Nucleus Wealth's Chief Investment Officer, Damien Klassen and Chief Strategist, David Llewellyn-Smith, looked at the oil market, which has seen prices drop sharply. OPEC resolve appears to be crumbling, demand is still weak, Chinese EV prices are tumbling and US production ...
FTAlphaville has ripping post on AI.
The March quarter national accounts, the most comprehensive measure of economic activity, will be released on Wednesday.
