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For once the fact the the bulk of FTSE 100 shares are outside the golden circle of AI-related technologies has been a positive rather than a negative (in financial services commentary terms), as the index hits a historic high, being the bolthole for (English language) investors seeking a safe haven from US AI-exposed stocks....
So being a (partial) back water (in share market terms) has finally paid off....
#AI #StockMarkets #UK
h/t FT
Same here in 🇨🇦. My portfolio of snoozy 🇨🇦 banks, utilities, railroads, miners and clothing stores (Roots) is doing just fine.
I've got a little NASDAQ 1x leveraged short position just for fun, which is up 6%.
I might yell at the regulator again today about getting the banks penalized for AI exposure. Poor regulators. All they want is a quiet life scrutinizing the subscription docs of small private investment firms so they can correct their spelling and gravely warn them about continuing to never sell to Grandma Millie. I'm sure the thought of attempting to actually regulate a bank has them wetting the bed.
The FTSE 100 is dominated by huge banks and oil companies, which are doing well in a climate of higher interest rates and oil prices.
That, as well... the FTSE rise is due to more than one cause, but the flight from AI-related stock is certainly help push it up
It will be interesting to see how exposed the banks are to all the fraudulent financial dealings related to AI.
Yes, which is what is likely to bring the whole house of cards tumbling down
YTD, the FTSE 100 is well ahead of the S&P 500, the Dow and NASDAQ
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