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Best Idea quickly on a Friday, but from a world day. We can thank you for your support of all we do here. Our team really appreciates the interest across all of the different platforms, including a quick vignette here with single Best Idea Brian Levitt and today with Investco, always looking at the greater strategy. He's got a new mission in Investco, which is a study of personal finance. Brian Levitt of Investco.
The nation's personal finds. I would say in terms of the literacy, we still have work to do in terms of guiding people on saving money and how to invest. I think there's a lot of superfluous purchases being made. Those little purposes add up over time.
But what I see is particularly a generational mixture of investment versus speculation. Correct, there's a lot of people doing what you and I brought when you were at Michigan. You're in class. This is a speculation the Detroit Tigers will win. That's a speculation. There's way too much speculation going on, right.
Yeah, back in eighty four, I guess the Tigers did actually win. So you know, if you look at the broad market. I think there's a perception from people that it might be speculation. The reality is in the broad marketing companies in the S and P five hundred are growing earnings double digits, and so price to forward earnings are above average. But I wouldn't say they're as excessive
as people think. There's certainly speculation in other parts of the market where the younger generation may be looking to get a little bit richer, quicker than perhaps.
We tried to Brian Levete of Invesco Damien SASA in Today for Paul Sweenyan. I thought Damien had a really trenchant idea that maybe what's percolating here is another bout of this American exceptionalism with a resilient dollar. And of the course how well in Nvidia did and AI and such. Sometimes as zeitgeist changes, and it changes on a dime.
That happened overnight with a really acute observation that Microsoft is really upset at the expense of claud Internally translated, the you know, the being counters, the accounting people at any given company are really like, is this what AI costs? On the U side? All of a sudden, it's become an issue. We were advantaged with this issue exploding. Jeffrey Curry ex Golden Sachs out with a really important microeconomics
of AI tweet. What an advantage to have dan Ive's with us this morning here on the innings of AI.
I mean, look that it just speaks to we're still in the early stage. Great, there's more data centers being built. In active data centers, costs over time will come down, but right now in this arms raise, no company, whether it's large cap tech, small cap international, could basically not go down this route because eventually what's going to happen is the cost and the MONIZI they'll flip flop over the next few years, and that's why companies are spending at this pace.
I agree on that, but on a macro basis in your world famous on this. Does that mean we see a consolidation within the industry? And is that in the second inning year, is it Red Sox try to get to fourth of July or is it in the eighth inning the Yankees are ready to lose to the Blue Jays again? Which is it it's second and third inning?
Because this is look, it speaks to like the Bears in their caves hibernation mood that have missed every transmission in TECHTOC the last twenty years. They'll continue to miss the AI trade, underestimating the scale and scope of what the spending looks like. And I've seen it, you know, just even a few weeks ago in Taiwan, Inesia demand. This is what twelve to one, and that is going to continue to drive this massive cap BAC and the ripple effects across tech, energy and everything else.
Daniel Eves Well timed from webbush I put this out on Twitter and LinkedIn today. It's a Deloitte paper from January. It's quite long. I will read the whole thing this weekend, but a lot of people are thinking about the microeconomics of artificial intelligence. Suddenly it's a theme for Bloomberg Surveillance into the rest of two thousand and twenty six. On podcasts at Apple, at Spotify, on YouTube podcasts. It's single best idea