The Business Times

Ian Harnett

THE WRITER IS CO-FOUNDER AND CHIEF INVESTMENT STRATEGIST AT ABSOLUTE STRATEGY RESEARCH

Despite our positive view on the structural narrative for AI, investors should be wary of paying for AI stocks on valuations equivalent to 30 times earnings, or eight times sales.

The AI capex endgame is approaching

The rapid building of excess capacity both extends bubbles and ultimately bursts them

A housing estate in Centreville, Maryland, US, April 4, 2023. Real estate could be one key flashpoint this year, with residential property prices already hit hard by higher rates.
WEALTH & INVESTING

The financial turmoil is not over

If 2022 was about the repricing of capital, 2023 is likely to be about the reduction in its quantity

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