While the summer months are proving to be less lucrative for stock market participants, the overall trend this year has been up. The reason for the rally has been primarily down to AI hype, with various cultural commentators predicting this tech’s impact could be as big as that of the Industrial Revolution.
But not all are quite as hyperbolic. There are grumblings on Wall Street that we are now entering an AI-driven bubble, with some prominent market watchers claiming the rally might not be sustainable while outlining a bearish outlook for the markets.
But if we are entering a bubble, then going by a past recommendation of one investing legend, investors should take advantage. “When I see a bubble forming, I rush in to buy, adding fuel to the fire,” goes one of George Soros’s well-known quotes. “That is not irrational.”
Soros is one of Wall Street’s all-time greats and one of the world’s most successful hedge fund managers ever with a personal fortune of ~$6.7 billion,…
2023-08-18 06:32:54
Article from finance.yahoo.com