00:00Your thoughts, again, some of these are correlated in terms of corporate bonds and things like that.
00:04Is it being sold off? Is it the realization that business models will change?
00:07Like, what are we living through?
00:09So, I think actually what Neil said is that completely right.
00:12What we've had is effectively AI jitters.
00:15We've had it for a while.
00:16Valuations are obviously very elevated, and there's big question marks around what the future holds,
00:21where's the revenue going to be generated, which companies are going to be the winners,
00:24which companies are going to be the losers.
00:26It does feel at least the last couple of days has been quite indiscriminate.
00:30Sort of sell first and ask questions later.
00:32So, there probably is a lot of value to be had if you can get the right names.
00:35I think it's a great environment for good stock pickers who understand the kind of the bottom ups of these companies,
00:42what they're doing.
00:43And he's absolutely right.
00:44There are some companies that ultimately will be impacted by this, whereas others will be benefits.
00:49You know, people will be able to use AI to approve efficiencies.
00:52There will still be the companies that have their own sort of data warehouses,
00:57that's their own proprietary information.
01:00AI can't get hold of that in theory.
01:02So, I think it's a very interesting environment.
01:05It reminds me, you know, we've had a few of these over the last year.
01:07I mean, it was only a year ago.
01:08We had DeepSea, and everyone suddenly panicked, and then everything came back.
01:12But I feel there's going to be a lot of opportunities coming out of this.
Comments