is it a bubble? (20251213)
a solid bit of discussion from howard marks at oak tree capital. much of this is backgrounder on bubbles and the various types of bubbles that we’ve seen in the past. there’s a lot to unpack in the discussion and marks basically toes the reasonable investor line. don’t go all in, don’t avoid entirely.
he’s not particularly sanguine about the impacts on employment and the knock on effects in the economy. it would seem, that like with most things, there will be those who make a killing and those who get killed. but in this instance, the floor feels totally undefined. it really feels like we’re really operating in a new domain here in terms of technology and ambient politics.
Everybody But Nvidia And TSMC Has To Make It Up In Volume With AI
maths on AI infra. there’s an interesting take on where broadcom’s operating in this space overall.