00:00Great to have you on the day that we crossed through the 7,000 threshold on the S&P 500.
00:05I know it doesn't mean a lot fundamentally, but it is a big round number.
00:10I wonder what your take is on this continued AI.
00:15Boom, you know, ASML CEO said,
00:20Now, his customers are starting to realize that it's sustainable.
00:25So, are aggressively building up their equipment?
00:28Well, I'm delighted to be here.
00:30And I'm glad that you said that sometimes those big rounds
00:35numbers themselves don't really mean very much.
00:38Although it's fun to look at.
00:40I prefer, however, of course, to look at what's going on in the economy.
00:45And you're right, many of these technology stocks continue to perform.
00:50Extraordinarily well, even if we discount out some.
00:55Some of that circular financing that we're seeing in that industry, we do see that there's.
01:00There's this ongoing appreciation, if you will, for the potential.
01:05What we're seeing, however, in many industries is that that potential.
01:10Has not yet been fulfilled and one possibility for later this year is.
01:15We'll see a deceleration in the rate of expansion in this category.
01:20Not saying a decline, but rather a deceleration.
01:23And that's something to look at.
01:25And as we do that, as we think about where other opportunities may.
01:30We see there are other sectors of the equity market that are offering very good.
01:35Evaluation, good corporate profit growth, good corporate cash flow as well.
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