Ruchir Sharma

Anything.

So, for example, let's look at Europe.

It could be a Volvo.

It can be a Shell.

You look at emerging markets.

It can be a bank in Brazil like Itao.

It can be a company like Bharti Airtel in India.

Yes.

You look at the US, out here, a bunch of energy, materials, other companies, including some industrial companies.

So my point is that if you back-tested this, what I found was that if you bought quality stocks after they've had such a run of underperformance like they've had, they typically give you a return of about 15% annualized dollar for the next three to five years.

So my sort of advice to people is

Figure out how much equity risk you want to play the AI bubble.

And I have no idea as to how early or late in this.

It seems we're in the advanced stages of it, but it may still have some to go.

Figure out how much.

And if you want to take any more risk, equity risk in your portfolio, stock risk in your portfolio, buy this basket of stocks.

Because I would do this.

I'm putting my money behind this and saying for the next five years, if I'm going to get 15% annualized returns in dollar terms, I'm going to be very happy with it.

Yeah.

Like I said, first figure out how much you want to put in the AI trade, and this is what you put as the hedge, so to speak.