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Tag: technology

Regional Bank Credit Risk, AI Hype, Trouble in Commercial Real Estate (Szn 5, Ep. 16)

Published June 20, 2023

With Chris Bemis, X-Cubed Capital

Chris Bemis, co-founder of X-Cubed Capital, joins the podcast to discuss his views on regional bank credit risk, the nascent bubble in AI tech stocks (and AI more generally), problems in commercial real estate, and how he applies his mathematics background to investing.

Content Highlights

  • Last September, X-Cubed’s credit risk signals flashed red over regional banks, causing the firm to put on some trades to profit. That opportunity has now run its course and the other side may hold more interest… (1:21);
  • AI tech stocks: It’s not 1999 but more like 1995 with the beginning of the seeds of a bubble. The firm is more bullish on mid-cap stocks in general (12:11);
  • Background on the guest (15:40);
  • The differences between a multi-manager approach to investing and multi-strategy and why the latter has advantages right now (19:46);
  • The bearish argument on office space and why he’s bullish homeowners (26:20);
  • Making use of mobile phone data and other ‘alternative’ data sources (30:00);
  • AI, artificial intelligence, and why it falls short in many investment approaches (33:18);
  • Some advice for math students from a mathematics academic (38:37).

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AI is Overhyped as an Investment, Will Only Worsen Inequality (Season 5, Episode 14)Coverart, Season 5, Episode 14 feat Simon Johnson

AI is Overhyped as an Investment, Will Only Worsen Inequality (Season 5, Episode 14)

Published May 31, 2023

Feat Simon Johnson, co-author, ‘Power and Progress, Our Thousand-Year Struggle Over Technology and Prosperity’

MIT Economist Simon Johnson joins the podcast to discuss his book, ‘Power and Progress, Our Thousand-Year Struggle Over Technology and Prosperity’ and specifically why artificial intelligence is likely overhyped, and that not just from an investment perspective.

Content Highlights

  • Artificial intelligence’s default trajectory is about machine intelligence, code for replacing people with machines. Historically, this has not brought great things (1:21);
  • Indeed technological progress has not always benefited everybody, but just a small group at the top. Today’s advancements are no different (5:11);
  • Don’t expect a boost to business either. Productivity gains should be limited (9:17);
  • Some of the dangers of Chat GPT and Google’s Bard that is driving most business development around AI (20:12);
  • Background on the guest (24:26);
  • Thoughts on the current market environment and its potential to spill over into crisis (27:43).

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Mild Recession Brings Opportunities in Tech Stocks, Corporate Bonds: (Season 5, Episode 12)

Published May 11, 2023

Feat Elliot Kallen, Prosperity Financial Group

Elliot Kallen, founder of Prosperity Financial Group, joins the podcast to discuss his expectations for a coming recession, to start this summer, and why some of the best opportunities may be in technology stocks and corporate bonds.

Content Highlights

  • Tech stocks: the pullback is coming (3:31);
  • The market is starting to flatline. Look to midcap value stocks (6:04);
  • The Fed will likely raise rates one more time and then reverse. Time to buy bonds — corporates (8:47);
  • Consumers have already started to pull back, judging by some primary evidence the guest gathers… (12:02);
  • Why the recession will be mild, despite the red flags (17:38);
  • Background on the guest (24:00);
  • Active management has its place (30:24);
  • Thoughts on the next generation growth industries (36:53).

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