Emmet

Yeah.

Well, there you go.

I never would have guessed it.

Michael Burry, you know, the big short movie, like he's characterized the current NASDAQ rally as more extreme than 1999.

Yes.

Yeah.

It really is.

And you're right, there is a contrary argument.

There's lots of arguments to say we're at a peak and there's always someone or a system out there that says it's time to sell.

It's just there's enough voices in the world for every opinion at any one time.

When a market is out of run, those voices get louder.

Like Bob Shiller, who I think won the Nobel Prize for Economics.

He has a measurement, the Shiller Index, when it tops a number, I think it's 40, it's time to sell.

And that index has indeed topped 40.

But Morgan Stanley, their view is that while the whole AI bubble is there to be seen, or at least the debate is raging on about whether or not we're in an AI bubble,

healthy skepticism is actually keeping valuations more in check than it first appears.

And that there is an AI productivity revolution undergoing right now in front of our eyes.

You and I as information workers, if you like, can see how AI is augmenting everything we touch.

And then maybe if you're in landscape gardening, it's less apparent, but AI is fundamentally

causing this productivity revolution.