When Markets Misbehave
  • February 23, 2025

When Markets Misbehave

Markets misbehave, sometimes when we least expect it. How badly they misbehave depends on the soundness of the hull and the level of self-reinforcing hubris. When Ben...

Another Massive Misallocation of Capital?
  • February 23, 2025

Another Massive Misallocation of Capital?

“Half a trillion dollars have been invested in a misguided premise. Given the double whammy of price wars and unreliability, many AI companies will probably never make back their investments....

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