00:00All right, Art, final advice for investors right now with stocks at record highs, the economy showing signs of cooling, all this uncertainty that you mentioned in terms of the impact of AI on the jobs market.
00:10What's your advice to investors?
00:12Well, I think investors should think about this as a journey and not a point in time.
00:16And unfortunately, because there's a 24-hour news cycle, we get to hear about the points in time a lot.
00:21You need to separate a lot of the noise from the news.
00:23And I think the news is more good than bad.
00:25I think once we get through the uncertainty over trade, we'll start to feel the beneficial effects of things like less regulation and knowing what the corporate tax rate is going to be for several years.
00:34I think those haven't shown up in equity valuations right now.
00:38And I think we're in very early innings in this artificial intelligence revolution, which will continue to show us more winners in tech and communication services.
