You said it. That's why I just mentioned that these 2 charts will be nothing alike moving forward and what I mean by that is chatgpt chart will actually not even come close to gaining what netscape did back in the late 90s.... The market needs an excuse to find the next wave of gains to the upside and they believe it's chatgpt, it will not be. Ai is just hype ... And I'll say that forever.
I guess that can change if there are some major new breakthroughs in AI. I think it is very unlikely in the next 2.5 years but you can't completely rule it out.
This is where it find it interesting. Talk of ai and what it's supposed to do in just a handful of years is that it will be a threat to millions of jobs. So if wallstreet is playing the ai game and knows what the future holds in terms of what ai will achieve and the prediction of how ai is going to be doing the jobs of millions of people how can we sustain a path of upward trajectory of gdp growth when 70% of that is consumer spending ... Meaning millions of jobs will be lost to ai yet predictions are for equities to go parabolic, meanwhile millions will be out of jobs, unemployment will skyrocket and be double digit high ....you can't achieve this ai greatness without having a negative impact on the economy as a whole....with ai threatening millions of jobs where will the consumer have the money to consume to keep growth in our economy sustainable?
Can you imagine buying the top??? My 2 cents that may be worthless - Sell in May and go away. I've never understood this either. AI is going to kill millions of jobs all over the world including the ones that need manual labour which is the backbone of smaller countries. They still claim AI will be a gamechanger. For who?
120?? Haa. Nope.. Better hope all those billions in Capex spending are leading to a way to find monetization ....each of them is trying to out do each other and spend billions to stay in the ai race. Without ai wallstreet has nothing hence the reason for the ai hype game to keep going until it eventually collapses in on itself.
Nasdaq 50,000 in 2.5 years sounds absurd given its current level. But Nasdaq 25,000 doesn't seem so far fetched, and that would repeat peak dot com levels of valuation, so not unprecedented.
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Did you also listen to him a few months ago when he said buy the QQQ near 540 because it was ready to explode higher?
Hello Businessman, No I did not. I did not know him months ago. I do not care about what happens months ago, I care about the account balance now. I am a gambler stock picker, I do not care about theory.
When are you selling?? Were you one of the few who voted 7000 before 5000 on my poll a few months back?? Cause a lot of people I spoke to before march thought the s&p would never see 5000 again.