Traci Alloway

All right.

The big talking point in markets is obviously valuations, all of this AI frenzy.

Is it a bubble?

Is it not?

But even if you think that a lot of this is speculative.

My big question is, what do you actually do at this point, right?

Because so much of the market has been momentum-driven recently.

AI enthusiasm is pretty much everywhere.

So we talk a lot about weightings in the benchmark indices of big tech.

But also, as we discussed recently with Torsten Slok in his great presentation at our live show, the AI factor is basically embedded in pretty much every stock at this point in time.

Yeah, that's right.

So this poses a bunch of interesting questions, obviously.

The big one being, are we in a bubble or not?

And then I guess the next biggest one being, well, what do you actually do?

That's right.

How do you stay sane in a giant market bubble?

And we do, in fact, have the perfect guest, someone who has managed to do that over the years, more or less, I think.

We're going to be speaking with Jeremy Grantham.

He is the co-founder and long-term strategist at GMO, as well as the author of the new memoir, The Making of a Permabear, The Perils of Long-Term Investing in a Short-Term World.

And famously, the caller, the accurate caller of many previous market bubbles, including Dotcom, which is the parallel that everyone keeps using.