Brian Levitt

Travelers is like not an exciting company.

It's a couple of bucks away from an all-time high.

Why?

They're one of the first companies that's got tangible evidence that their AI investments are.

So if you think about all the areas where AI should help companies, risk management and insurance underwriting should be the top of your list.

This is like the most obvious thing in the world.

We have algorithms.

Let's let the AI loose on those algorithms and see if we can improve AI.

how much money we end up surrendering from bad underwriting.

So they announced a 21% year-over-year jump in underwriting profit.

And on the conference call, they told Wall Street, this is the f***ing AI.

That's what's going on.

It's not a magical thing.

No.

Okay.

So if the rest of the market becomes littered with stories like that about stocks where nobody is associating them with the AI, but the AI customers start to surprise on earnings to the upside,

A, you'll get your broadening.

B, it would be a really interesting juxtaposition versus the last three years where we all have been myopically obsessed with the 100 picks and shovels companies selling us AI.

Wait, what if the real trade all along was investing in the most talented consumers of AI and

as they outdistance their competitors in earnings growth, thanks to those investments.