Chief investor urges people to quit chasing AI, says it’s not a matter of if but when it 'breaks’ — how to prepare
If you’re invested in AI, you might want to pay attention. Bill Smead, founder of Smead Capital Management, says the market frenzy around AI has all the signs of a bubble, driven by the momentum of stocks like Nvidia. Must Read “We’re in the crazy stage,” Smead told Business Insider, comparing today’s market to the eve of the dot-com crash in late 1999. (1) He points to valuations he feels are untethered from reality. Since early 2023, Nvidia’s value has jumped twelvefold to $4.4 trillion, while Palan ...