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☆ The US will see a recession by year-end that could spark a 30% drop in the stock market, legendary forecaster Gary Shilling says
▼ + stars: | 2024-05-06 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

A coming recession could end up sparking a "violent correction" in stocks, Gary Shilling told BI. The top forecaster pointed to warning signs of a downturn, such as a weaker job market. AdvertisementInvestors should be prepared for a recession with the potential to send the stock market plummeting this year, according to top forecaster Gary Shilling. That could be the final blow to the stock market rally fueled by investor overconfidence, causing stocks to drop by as much as 30%, Shilling said. Related storiesThe job market, for one, is "obviously slipping" as firms pull back on hiring, Shilling said.

Persons: Gary Shilling, —, overconfidence, Shilling, we've, we're Organizations: Service, Business, Wall, Employers, San Francisco, Treasury

☆ No cognitive bias is more 'dramatic or dangerous' than this one, author says—here's how to avoid it
▼ + stars: | 2024-04-22 | by ( Aditi Shrikant | ) www.cnbc.com time to read: 1 min

It is well-documented how imposter syndrome can hinder you in the workplace. The cognitive bias which describes the condition of not feeling successful internally when you appear to be thriving externally can cause anxiety, self-doubt, and depression. But there is another mental trap that can play just as significant of a role in your career, says Amanda Montell, author of "The Age of Magical Overthinking:" the overconfidence bias. "Out of all our cognitive biases, none has consequences more dramatic or dangerous than overconfidence bias," Montell says. "A bit of 'fake it till you make it' will probably serve you well.

Persons: Amanda Montell, Montell

☆ From Sports Betting to Meme Coins, Young Men Are Gambling in Droves
▼ + stars: | 2024-04-16 | by ( Emily Stewart | ) www.businessinsider.com time to read: +9 min

For young men in particular, it's an enticing, if a bit troubling, prospect. For some young men, a level of nihilism about the economy leads to an impetus to take some risks. Along with the rise of new customers, problem-gambling behavior is increasing, especially among young men. The New Jersey report identified a significant prevalence of high-risk stock trading among young men. According to the National Council on Problem Gambling, some 2.5 million Americans have a severe gambling problem, and another 5 million to 8 million have a problem it considers mild or moderate.

Persons: You've, Donald Trump's, Crypto, they're, they've, Timothy Fong, we've, Fong, it's, Kahlil Philander, haven't, Philander, Davids, Goliaths, Warren Buffett, Berkshire Hathaway, Emily Stewart Organizations: GameStop, AMC, NCAA, Pew Research, UCLA, Washington State University, National Council, sportsbooks, Business Locations: America, United States, Berkshire, New Jersey, Atlantic, Jersey, Plenty

☆ These plane crash survivors and victims’ loved ones are becoming scared to fly again after years of travel. They’re not alone
▼ + stars: | 2024-04-06 | by ( Elizabeth Wolfe | ) edition.cnn.com time to read: +13 min

Others, however, said they are still confident in flight safety, pointing out that commercial air travel remains one of the safest modes of transportation. Cara and Erin Ashcraft survived the crash of American Airlines Flight 1420, operated on a McDonnell Douglas MD-82, during a landing at Little Rock National Airport on June 1, 1999. “I’ve never had concerns (about air travel safety) before. This is the hole left behind when the plug door of an Alaska Airlines flight blew off midflight on January 5, 2024. Pierson is wary of attitudes around the apparent safety of American air travel, he said.

Persons: Barb Handley, –, ” Handley, Handley, ”, ‘, Mary Handley, Alice, Barb Handley Miller, Pat Gabrielse, Dan Handley, Beth Handley McMall, Kathleen Handley Salemi, Cara, Erin Ashcraft, “, I’m, ” Cara, ” Cara Ashcraft, ’, McDonnell Douglas, Andy Scott, “ I’m, ” Erin Ashcraft, ” ‘ I’ve, Trey Smith, “ I’ve, ” Smith, Smith, Scott Kirby, United, Boeing Aubrey, Max, Aubrey, they’re, ” Anthony Brickhouse, Florida’s Embry, Brickhouse, Ed Pierson, Pierson, That’s, ” CNN’s Chris Isidore, Jacopo Prisco Organizations: CNN, Alaska Airlines, United Airlines Boeing, Boeing, –, National Transportation, NTSB, Federal Aviation Administration, United Airlines, American Airlines, McDonnell, Little Rock National Airport, Dallas Morning News, International Air Transport, United, Reuters United, Airbus, “ Airlines, Delta Air Lines, Hawaiian Airlines, Florida’s, Riddle Aeronautical University, Alaska Airlines Max, US Federal Aviation Administration, National Transportation Safety Board, Foundation for Aviation Safety, Air Canada, San Francisco International Airport Locations: Alaska, Little Rock , Arkansas, United States, Virginia, Los Angeles, East, Southwest

☆ Flying is getting scary. But is it still safe?
▼ + stars: | 2024-03-24 | by ( Chris Isidore | ) edition.cnn.com time to read: +9 min

Another Boeing jet plunged so severely that passengers were thrown onto the ceiling of the cabin, leaving dozens so injured they need to be hospitalized upon landing. Carlos Avila Gonzalez/The San Francisco Chronicle/Getty Images/FileHowever, other forms of flying are not nearly as safe. “Taking the Max out of the equation, (flying has) been proven to be pretty darn safe,” he said. A year ago, the discussion about air safety wasn’t focused on Boeing planes. “The gold standard is melting down, because we continue to try to downplay everything and talk about how safe the system is.

Persons: Kardashian, ”, Anthony Brickhouse, “, it’s, Carlos Avila Gonzalez, Ed Pierson, Max, Pierson, ” Brickhouse, We’ve, That’s, Brickhouse Organizations: New, New York CNN, Alaska Airlines, Boeing, Japanese Coast Guard, Embry, Riddle Aeronautical University, Asiana Airlines, San Francisco International, San Francisco Chronicle, Railroads, Amtrak, Foundation for Aviation Safety, Max, Alaska Air, National Transportation Safety Board, FedEx, an Air Canada, San Francisco International Airport, NTSB, Air Canada, “ Pilots Locations: New York, Tokyo, Buffalo , New York, United States, San Francisco, Southwest, Alaska, “, Hawaii

☆ It's been four years since the market's Covid low with the S&P 500 returning 25% annualized since
▼ + stars: | 2024-03-23 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

The four-year total return for the S & P 500 since March 23, 2020, is just about 150%, or 25.7% annualized. .SPX mountain 2020-03-23 S & P 500 since the Covid low This is, of course, an idealized starting point from which to measure performance. While the S & P 500 bottomed at around a three-year low under 2,200, the index spent only a few weeks under 2,500. More qualitatively, it's a bull market, and in a bull market the overshoots occur to the upside, so a rally being "ahead of itself" is not fatal. And the S & P 500 is only 9% higher than it was more than two years ago, hardly reaching escape velocity from planet Sanity.

Persons: –, Warren, Ned Davis, Tim Hayes, bullishness, Rocky White Organizations: HSBC, 3Fourteen, Bank of Japan, Fed, Ned Davis Research, Schaeffer's Investment Research, Intelligence, Bank of America

☆ Vote counting begins in closely watched Taiwan election
▼ + stars: | 2024-01-10 | by ( Clement Tan | ) www.cnbc.com time to read: +9 min

With China intensifying its rhetoric on its claim over Taiwan, global observers are billing this Taiwan election as highly pivotal for security in the Asia-Pacific at a time of testy U.S.-China relations. If Lai and Hsiao win the Jan. 13 vote for the Taiwan presidential office, it would mark the first time any political party has stayed in office for more than two consecutive terms since Taiwan introduced direct presidential elections in 1996. Campaign posters for various legislative member candidates in Taipei, Taiwan, on Wednesday, Dec. 27, 2023. China's Taiwan affairs office has characterized the self-ruled island's election as a choice between "peace and war, prosperity and decline." "China has always meddled whenever there is an election in Taiwan, but this time, it's the most serious."

Persons: Hou Yu, Hei Leung, Ko Wen, policymaking, Tsai Ing, Ko, Cynthia Wu, Jing Bo, jiun, Sam Yeh, Jing, Tsai, Lai Ching, Hsiao, United States —, Lai, Timothy S, Rich, Jaw Shaw, kong, Hou, Kevin Luo, Xi Jinping, Joe Biden, Xi, Biden, Nancy Pelosi, Rong Xu, Democratic Progressive Party Lai Ching, Yasuyoshi Chiba, DPP's Lai, Weeks Organizations: ih, Anadolu, Getty, Democratic Progressive Party, Kuomintang, Taiwan People's Party, China, Local, KMT, Taiwan Studies, University of Oxford, AFP, Taiwan, Rich Western Kentucky University, Taiwan's National Police Agency, New, DPP, University of Minnesota, Western Kentucky University, U.S, China -, APEC, CNBC, Former U.S, Bloomberg, Taiwan's DPP, Beijing, Cross Straits Service Locations: Taichung, Taiwan, Taipei, Asia, Pacific, U.S, China, Hsinchu, United States, Overconfidence, New Taipei City, China - U.S, Beijing, Taiwan Strait, Kaohsiung

☆ Americans broke a record for spending on Black Friday, but it is just hiding a bigger problem for the economy
▼ + stars: | 2023-11-28 | by ( Cork Gaines | Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

Many are delaying the cost as buy now, pay later programs are expected to have their biggest month ever. Many are paying via "buy now, pay later" platforms such as Klarna or Afterpay, which let shoppers pay in installments every week or month. Buy now, pay later also allows people to borrow less expensively as they get the pricing interest-free if paid off in time. Indeed, the Fed's "2022 Survey of Household Economics and Decisionmaking" found that 83% of respondents paid off their buy now, pay later programs on time. Compounding the problem is that people tend to spend more when using buy now, pay later programs, suggesting an overconfidence in what they can afford.

Persons: —, Salesforce, Beryl Tomay, Klarna, Mark Luschini, Janney Montgomery Scott, Maria Bartiromo, Luschini, Michael Landsberg, Landsberg Bennett, Kraig, Foreman Organizations: Black, Service, Adobe, Mastercard, CNBC, Business, Federal Reserve Bank of Atlanta, Household Economics, Social Science Research Network, Wealth Management Locations: Landsberg

☆ Americans broke a record for spending on Black Friday, but it's just hiding a bigger problem for the economy
▼ + stars: | 2023-11-28 | by ( Cork Gaines | Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

☆ Sam Altman says successful people ‘believe in themselves almost to the point of delusion’—that's frightening, says expert
▼ + stars: | 2023-11-20 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

Sam Altman, CEO of OpenAI, speaks to the media as he arrives at the Sun Valley Lodge for the Allen & Company Sun Valley Conference on July 11, 2023 in Sun Valley, Idaho. Some, like ex-OpenAI CEO Sam Altman, believe in taking it to an extreme — and that's when they turn from inspiring to frightening, says a leadership expert. "The most successful people I know believe in themselves almost to the point of delusion." Altman is "far from the first entrepreneur to have endorsed the idea that you have to believe in yourself, above all else" to succeed, says Moore. In his blog post, titled "How To Be Successful," Altman cited billionaire Elon Musk's "absolute certainty" that SpaceX could soon send a rocket to Mars as the "benchmark for what conviction looks like."

Persons: Sam Altman, Don Moore, Berkeley's, Altman, Moore, Elon Musk's, Musk Organizations: OpenAI, Allen & Company Sun Valley Conference, University of California, Berkeley's Haas School of Business, CNBC, Microsoft, SpaceX Locations: Sun Valley , Idaho, OpenAI, Mars

☆ 50 years after another devastating surprise attack, Israel is facing a different kind of war that will be tougher to fight
▼ + stars: | 2023-10-21 | by ( Michael Peck | ) www.businessinsider.com time to read: +7 min

After a surprise attack this month, Israel declared war on Hamas and began strikes in the Gaza Strip. This comes 50 years after another surprise attack on Israel by Egypt, Syria, and other Arab forces. AdvertisementAdvertisementIt was a Saturday in October 1973 when Arab armies launched a massive surprise attack that came perilously close to defeating Israel. Henri Bureau/Sygma/Corbis/VCG via Getty ImagesThe Yom Kippur War ended after nearly three weeks of fighting. The Yom Kippur War was a war between nations employing regular armies that fought intense mechanized battles like those of World War II.

Persons: —, Israel, Henri, Anwar Sadat, Camp David, it's, Fred Ihrt, Moshe Dayan, Golda Meir, Mostafa Alkharouf, That's, Anwar El Sadat, Netanyahu, Michael Peck Organizations: Hamas, Service, Israel, Getty, Camp, Camp David Accords, Israeli, AFP, Defense, Foreign Policy, Twitter, LinkedIn Locations: Israel, Gaza, Egypt, Syria, Kippur, Golan, Sinai, Haifa, Sderot, Anadolu, Cairo, Damascus, Lebanon, Jerusalem, Iran, Forbes

☆ Opinion | Are There Lessons for Israel From America’s Response to 9/11?
▼ + stars: | 2023-10-18 | by ( Ross Douthat | ) www.nytimes.com time to read: +2 min

Other lessons do apply, but not in any simple way. But not every aggressive path America took after 9/11 looks mistaken in hindsight. The long-term debacle of our Afghanistan occupation doesn’t make our initial decision to topple the Taliban unwise. Setting out to destroy the Islamic State’s caliphate rather than seeking stable coexistence was a correct and successful call. Reportedly that kind of cruise-missile minimalism is what Bin Laden expected from America after Sept. 11 as well.

Persons: doesn’t, Al, Clinton, Al Qaeda’s, — Locations: Israel, Iraq, Afghanistan, Al Qaeda, America

☆ SAS slides 95% as Scandinavian airline's shareholders wiped out
▼ + stars: | 2023-10-04 | by ( Louise Rasmussen | ) www.reuters.com time to read: +2 min

COPENHAGEN, Oct 4 (Reuters) - SAS shares slumped by as much as 95% on Wednesday after the airline announced a financial restructuring on Tuesday to prevent bankruptcy, bringing on board big new investors and wiping out the stakes of its more than 250,000 owners. SAS (SAS.ST) said U.S. investment firm Castlelake and Air France-KLM (AIRF.PA) would become new major shareholders alongside the Danish state, and that the airline's stock will be delisted from the Stockholm, Copenhagen and Oslo exchanges. Scandinavian Airlines (SAS) flights are seen listed at Copenhagen Airport Kastrup in Copenhagen, Denmark, July 3, 2022. Shares in SAS, which have tumbled in recent years, traded down 83% at 1144 GMT to 0.05 Swedish crowns ($0.0045). "Management itself has come out to say there was a risk that the shares will become worthless.

Persons: Andrew Kelly, Lind, Jacob Pedersen, Pedersen, Louise Breusch Rasmussen, Anna Ringstrom, Terje Solsvik, Alexander Smith Organizations: SAS, Air France, KLM, France, Scandinavian Airlines, Copenhagen, REUTERS, Lind Invest, Thomson Locations: COPENHAGEN, United States, Danish, Stockholm, Copenhagen, Oslo, Amsterdam, Paris, Denmark

☆ A financially independent stock trader shares his biggest mistake that he says resulted in a 30%+ drawdown — and the changes that helped him average a 25% annual return for 5 years
▼ + stars: | 2023-10-01 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +5 min

I don't know what's going on. "That's a really, really dangerous point for all traders: When you first start, you don't know anything and you know you don't know anything; then, you spend a bunch of time and effort learning; and now you think you know something but unfortunately, you still don't know what you don't know." Ultimately, Smolinski's mistake, which he categorizes as the "most pivotal moment in my trading career," forced him to reevaluate his trading proficiency and strategy. Reevaluating his strategy and getting 'super organized'Smolinski didn't have a trading plan up until his first big loss. However, his account drawdown prompted him to create a blank Word document and start his trading plan, which has grown to 388 pages.

Persons: Erik Smolinski, he'd, Dunning, Kruger, Smolinski

☆ Opinion: How Covid-19 is resurfacing after months of calm
▼ + stars: | 2023-09-05 | by ( Kent Sepkowitz | ) edition.cnn.com time to read: +6 min

Kent Sepkowitz CNNThere are several plausible reasons why this latest bump is occurring now after months and months of calm. To sort it out, I decided to perform an at-home rapid antigen test. One negative test on the first day of symptoms, especially with the rapid antigen test, is not determinative. The virus that causes Covid-19 infection is a simple scrap of RNA that cannot survive without a living cell to support it. This won’t be the last alarm, real or false, for me (and others) in the months ahead.

Persons: Kent Sepkowitz, Covid, —, overconfidence Organizations: Memorial Sloan Kettering Cancer Center, CNN, Kent Sepkowitz CNN, US, Twitter Locations: New York, United States, XBB

☆ Opinion: The Golda Meir movie starring Helen Mirren fails the test of history
▼ + stars: | 2023-08-26 | by ( Hilary Krieger | Opinion Noah Berlatsky | ) edition.cnn.com time to read: +9 min

CNN —In Guy Nattiv’s new feature film “Golda,” which arrived in theaters Friday, Helen Mirren plays Israeli Prime Minister Golda Meir during the crisis of the 1973 Yom Kippur War. Accordingly, the movie is inevitably fodder for an ongoing discussion about whether non-Jewish performers should play Jewish roles. They made significant advances, threatening all of Israel, until Israel ultimately turned the tide to retain the land it had acquired in 1967. Join us on Twitter and FacebookInstead, the point is that the Yom Kippur War was a complicated conflict for territory and geopolitical advantage, abetted by prejudice and intransigence on every side. White non-Jewish actors can be cast as White Jewish characters because White Jewish people (like White Irish people or White Italian people) are, at the moment, generally perceived and accepted as White.

Persons: Noah Berlatsky, Guy Nattiv’s, Golda, Helen Mirren, Golda Meir, Mirren, Noah Berlatsky Noah Berlatsky, ”, Mirren —, —, “ Golda ”, Moshe Dayan, There’s, Anwar Sadat, Sadat, Israel, Abraham Rabinovich’s, ” Rabinovich, Meir, Henry Kissinger, Liev Schreiber, Kissinger, it’s, Golda Meir's, Mirren’s, “ Lawrence, Dawn ”, Hitler, Hafez al, Assad, — Sadat, Golda ”, It’s, Bradley Cooper bafflingly, Leonard Bernstein, White, Helen Mirren’s Organizations: CNN, Israel’s, Twitter Locations: Chicago, ”, British, Israel, Syria, Egypt, Yom Kippur, Sinai, Yom, Russia, Germany, Soviet Union, Cambodia, Russian, Western

☆ 5 ways to spot a narcissist
▼ + stars: | 2023-08-22 | by ( Madeline Holcombe | ) edition.cnn.com time to read: +6 min

There are three types of narcissists, and they can be distinguished by how they go about feeling special, Malkin said. “Their achievements are better.”Covert narcissists feel special by being seen as the person suffering the greatest misfortune or misunderstanding, he added. Third, there are communal narcissists, who feel special by being seen as the most helpful person in any group. How to evaluate itNeeding to feel special often gets in the way of narcissists nurturing close relationships, Malkin said. • Exploitation, “which is doing whatever it takes no matter the cost to others in order to feel special.”• Entitlement, which is “acting as if the world should bend to their will.”• Empathy impairments, which is “to feel special compared to others.

Persons: Keith Campbell, …, ” Campbell, Craig Malkin, Malkin, “ It’s, ” Malkin, “, ”, you’ve, Covert, “ They’re, Deborah Ashway, ” Ashway Organizations: CNN, University of Georgia, Harvard Medical School Locations: Cambridge , Massachusetts, New Bern , North Carolina

☆ The No. 1 thing successful people never do, from an investor who sold her startup for $375 million
▼ + stars: | 2023-08-09 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

It takes confidence to launch your own business, but overconfidence can be a recipe for failure. That's why Alexa von Tobel warns not to get too caught up in your own success. People were clearly excited about the business, and von Tobel knew she'd "hit [on] something" with the idea. As a first-time entrepreneur, von Tobel didn't get carried away with her company's early success. Making sure you retain some "healthy paranoia" doesn't mean you have to live in constant fear of failure, von Tobel notes, or be afraid of celebrating wins, in order to be successful.

Persons: Alexa von Tobel, LearnVest, von Tobel, she'd, didn't, von Tobel didn't, Warren Buffett Organizations: CNBC, Northwestern Mutual Locations: Harvard

☆ How ‘gray rocking’ can protect you against narcissists
▼ + stars: | 2023-08-04 | by ( Madeline Holcombe | ) edition.cnn.com time to read: +6 min

Here is what you need to know about narcissists and how to gray rock your way out of conflict with them. It depends on what you mean by narcissist, Malkin said. In conflict, or even just in conversation, it is important to protect your sense of self and independence from narcissists, Ashway said. If the person is likely to just be a jerk, gray rocking may be very helpful. Important to remember, though, is that gray rocking is not about changing the behavior of the narcissist, Malkin said.

Persons: ” Gray, narcissists, Keith Campbell, I’ve, ” Campbell, Craig Malkin, narcissist, Malkin, Campbell, …, Covert, ”, “, you’ve, Deborah Ashway, Ashway, “ They’re, “ It’s Organizations: CNN, University of Georgia, Harvard Medical School Locations: Cambridge , Massachusetts, New Bern , North Carolina, narcissists

☆ Like getting price tracking alerts from your online broker? Here's why you should be careful
▼ + stars: | 2023-06-29 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

You know all those price tracking alerts you can get from your broker that alert you to changes in price for your favorite stock, mutual fund or ETF, or that alerts you about 52-week highs or lows? The authors, Che-Wei Liu, Yanzhen Chen, Ming-Hui Wen, partnered with one of the largest retail mutual fund investment platforms in Taiwan, which provides a free price tracking alerts tool. Why did the group that utilized the price alerts underperform? Because the price alerts made traders cocky and because a lot of the traders were financially illiterate and didn't understand what they were doing. The SEC is worried too The SEC has expressed concerns over these digital trading platforms, including ones that provide price tracking alerts, which may be encouraging excessive trading.

Persons: Wei Liu, Yanzhen Chen, Ming, Hui Wen, Larry Swedroe Organizations: Strategic Wealth, SEC, Industry Regulatory Authority Locations: Taiwan

☆ The rich often misjudge the potency of their retirement savings, report finds
▼ + stars: | 2023-06-12 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Thirty-two percent of high-income households are "not worried enough" about their retirement risk, a larger share than the 26% of low- and middle-income earners. The Center for Retirement Research uses the survey data to construct a National Retirement Risk Index. The index models retirement preparedness according to a range of assets like Social Security, pensions, home equity and employer-sponsored retirement plans, such as a 401(k). Anqi Chen assistant director of savings research, Center for Retirement Research at Boston CollegeIn 2019, 47% of American households were at risk of not being able to maintain their standard of living in retirement, according to the index. Why the rich are more likely to underestimate riskWestend61 | Westend61 | Getty ImagesNineteen percent of U.S. households correctly identify as being at risk of falling short in retirement, according to the center's report.

Persons: Anqi Chen, Chen, they're, David Blanchett, Louis Organizations: Getty, Center for Retirement Research, Boston College, Finance, GOP, Federal Reserve's Survey, Consumer Finances, Retirement Research, Social Security, for Retirement Research, Westend61, Prudential Financial, Federal Reserve Bank of St, Center for Locations: U.S, PGIM

☆ Opinion | If You’re Reading This, You’re Probably ‘WEIRD’
▼ + stars: | 2023-05-26 | by ( The Ezra Klein Show | ) www.nytimes.com time to read: +83 min

You’re probably very weird, and not just for all the obvious reasons you’re thinking of. Because, obviously, there’s going to be some overlap in the curve here. How you’re going to behave with your professor is quite different than how you’re going to behave with your friends. But it’s really kind of faceless, and you’re not really helping anybody you know. I think things are dynamic, and directions are changing, and that sort of thing.

☆ Buy these 14 'boring' stocks that are set up for strong long-term growth, according to a pair of fund managers in the top 1% this year
▼ + stars: | 2023-05-20 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

Leading fund managers Brian Yacktman and Elliott Savage broke through by sticking to their strategies. The pair looks for growth stocks that have pricing power and aren't too expensive. 14 top stocks to buy nowInvestors in search of those so-called boring stocks with steady growth, pricing power, and reasonable valuations are in luck. The fund managers like Mastercard (MA) and Visa (V), which function very much like toll collectors in the global payments space. Both enjoy the tremendous advantage of scale that wards off would-be competitors and positions them for future growth, in the fund managers' view.

☆ AI boom could expose investors’ natural stupidity
▼ + stars: | 2023-05-19 | by ( Felix Martin | ) www.reuters.com time to read: +7 min

Indeed, enthusiasm about AI has become the one ray of light piercing the stock market gloom created by the record-breaking rise in U.S. interest rates. It’s a good moment for investors to be especially alert to the tendency of natural stupidity to drive stock market valuations to unrealistic – and therefore ultimately unprofitable – extremes. However, the most important lessons of behavioural economics relate to a more fundamental question: Will the new generation of AI do what it promises? Behavioural economics offers some cautionary tales for such attempts to apply AI in the wild. For example, stock market returns can be affected by a small number of rare but extreme movements in share prices.

Major players are hoping that the SEC and Washington takes, what crypto watchers see as bluffs, seriously and soften the hard line that regulators have taken on the industry. Coinbase CEO Brian Armstrong said last week that the SEC was on a "lone crusade" with its tough actions against certain crypto companies. "The SEC is a bit of an outlier here," Armstrong told CNBC's Dan Murphy in an interview in Dubai. But he's created some lawsuits, and I think it's quite unhelpful for the industry in the U.S. writ large." "The biggest fear of crypto companies is that regulation will cause panic among crypto investors and prices will go down.

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