The ‘smart money’ isn’t acting like we’re in a bubble, top economist says. The AI ballgame is in its ‘early innings’
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Despite the skyrocketing valuations of the Magnificent Seven and anxiety over massive AI capital expenditures, one top economist argues that the U.S. stock market is missing the most critical ingredient of a financial mania: the exit of the “smart money.” Owen Lamont, a portfolio manager at Acadian Asset Management and a former University of Chicago […]