Traci Alloway

So Jeremy, thank you so much for coming on Oddbots.

So what do you recommend investors to at this point in time?

Because it seems like there's no escape from AI enthusiasm, to put it mildly.

So you touch on this in the book, but when we're in the midst of a major bubble and people are seeing crazy returns like 17% on SpaceX, what do you tell clients?

They're missing out on these huge gains.

I assume you're encouraging them to be patient, to wait for that mean reversion.

But how do you actually handle the pressure of having a customer, a client who is under pressure to, at a minimum, meet their benchmark?

So I think a lot of people would probably agree that markets feel a little frothy at the moment.

But I think there's also a mentality.

Again, it goes back to this momentum factor that's dominated in recent years.

But I think there's a mentality that everyone just assumes they're going to be able to get out before everyone else.

Everyone's going to head for the exits at the same time.

So you enjoy the gains.

And then hopefully you're slightly smarter than everyone else.

And you manage to save yourself before the bubble actually bursts.

How do you go about thinking about timing of the bursting of bubbles?

What are the signs that you actually watch out for in terms of when everyone is heading for the exits all at once?

Wild times.

Well, can I just ask, related to this point, the dot-com bubble has come up a number of times in this conversation.

Do you actually have a preferred historical analogy for the situation that we're facing now?