Joe Rennison

Exactly.

Big, big outsized impact of the stock prices of just a handful of companies.

And all of those companies pretty much are fairly intertwined with artificial intelligence.

Mm-hmm.

And, you know, when you have such driving force as artificial intelligence in the market, this is a potentially transformational technology that could drive profits in the stock market for a long time.

So even if you're kind of worried about the attack on the Fed's independence or some of the geopolitical situations that are playing out, you probably don't want to miss out on a generational change.

technology that will really bolster U.S.

markets, the U.S.

economy, because other people around the world are going to want to be invested in that trade as well.

And that brings money into the U.S.

Yeah, absolutely.

Yeah, it's a concern.

Jamie Dimon, the chief executive of JP Morgan, biggest bank in the US, he warned of something similar.

The market does seem overvalued.

It does seem a little bit frothy.

There is room for a pullback here.

And all we have to look at are some of the sort of classical market metrics for assessing valuation.

And on pretty much all of those, let's take a company like Nvidia, for example, we're blasting through historical precedent.

We are way outside of normal ranges on what you would pay for a company with the sort of current track record behind it.

And the expectations, you know, when you pay more for a share, the idea, at least, behind that is that you think this company is going to be able to make that money in the future and give it back to you.