Josh Brown, CEO of Ritholtz Wealth Management, discusses the psychological forces driving capital allocation into Big Tech and artificial intelligence equities.
“We might be in the first fear-based
Investment bubble ever. Normally when you have an investment bubble, it's greed. In this case, there's an element of, I better invest in this.”
quote is from the automated transcript, cleaned for reading:
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More from Josh Brown
PredictionNot checkable as stated
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“When I don't need that person, who's probably a 24 year old getting, I don't know, 85,000 in their first year, when I don't need that person, and none of the other firms need that person, and that goes on for five years, you've kind of hollowed out the way tha…”
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“The effect of these forces that I'm describing is a dampening of volatility, and it is a acceleration of the correction process. So it's not that we don't have corrections we do, all the time. They don't last long, because the wealth manager, with fifty billio…”
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Brown: Investors now have a higher proclivity to panic buy than sell
“There's a higher proclivity to panic buy than panic sell.”
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