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AI Stocks Can’t Lead the Market Much Longer. Invest Internationally Instead (Szn 7, Epsd 3)Podcast episode coverart featuring Dan Rasmussen, Verdad Capital

AI Stocks Can’t Lead the Market Much Longer. Invest Internationally Instead (Szn 7, Epsd 3)

Published February 21, 2025

With Dan Rasmussen, Verdad Capital

Dan Rasmussen of Verdad Capital joins the podcast to discuss the dwindling prospects for AI stocks and why investors might want to look outside the US for better returns.

This podcast episode was released to premium subscribers on Monday, Feb. 17, 2025 without ads or announcements. For more information about premium membership options, visit our Substack.

Content Highlights

  • AI stocks have been on an incredible run, massively growing profits without much capital spending. That equation has changed… (1:51);
  • Tech companies are going from software businesses to manufacturing concerns — capital- and energy-intensive businesses that simply can’t produce the same growth as previous (6:03);
  • DeepSeek claims to be able to reduce the cost of AI applications. How does that factor in to the equation? (9:09);
  • So if the ‘Mag 7’ and AI stocks won’t drive the market higher, then what will? Where will growth come from? (12:16);
  • One place to start is to look for global diversification. Outside the US, stocks are meaningful cheaper… (15:24);
  • The guest’s book ‘The Humble Investor’ (21:37);
  • What can supply ‘edge’ in investing? There are some things. Legal ones… (27:10);
  • Background on the guest (33:02);
  • The guest is a historian by trade. What historical period is perhaps most comparable to the present day? Unfortunately, it looks an awful lot like ‘peak bubble’… (36:08);

More Information on the Guest

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The Looming Iceberg Ahead of the US Economy (Szn 7, Epsd 1)

Published January 28, 2025

Les Rubin, Main Street Economics

Les Rubin of Main Street Economics joins the podcast to discuss his chief concern facing not just markets and economies, but the world at large: US sovereign debt.

This podcast episode was recorded on Wednesday, Jan. 22, 2025 and released to premium subscribers the same day. Information on premium subscriptions, including the vast benefits, are available on our Substack.

Content Highlights

  • The US economy is headed to ‘serious problems’ and the guest’s mission is to educate people to the gravity of the situation (1:47);
  • Debt and fiscal deficits are nothing for the US. But its debt/GDP ratios is reaching a breaking point (2:57);
  • How soon might the breaking point arrive? (5:30);
  • Is there anything from the new Trump administration that might turn the tide? Elon Musk’s DOGE program has promise… (11:02);
  • What about tariffs? (16:22);
  • Background on the guest (20:36);
  • The need for more education: not just financial literacy, but economics (23:55).

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US Election ‘Black Swans’ Include Significant Chance of Political Violence (Szn 6, Epsd 20)

Published November 1, 2024

With Mike Blyth, Sigma 7

Dr. Mike Blyth of risk services company Sigma7, joins the podcast to discuss ‘unknown unknowns’ facing next week’s US election.

Blyth is a career national security professional, having worked for US and British civil and military operations globally.

This podcast episode was recorded on Oct. 30, 2024 and was made available to premium subscribers that day. To learn about premium subscription options, visit our Substack.

Content Highlights

  • Background on the guest and why he is qualified to speak of all things national and international security (1:42);
  • Main concerns entering the election. External and internal agitators have raised the risk of political violence (4:57);
  • Gaming out the various scenarios. Almost all involve violence, especially if former President Donald Trump is not elected (7:26);
  • The narrative on social media and elsewhere is consistent with what typically presages violence. “It’s a tinderbox. We’re waiting for the flame to be lit” (11:26);
  • What parts of the economy might be most at risk and which might be more resilient (16:49);
  • What about geopolitical risks? (20:42).

For more about the guest, visit the website S7risk.com.

Watch the Recording

Transcript

MoreUS Election ‘Black Swans’ Include Significant Chance of Political Violence (Szn 6, Epsd 20)
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