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The Future of Investing
This Week on The Compound
This Week on The Compound
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This week on TCAF, Josh and Michael were joined live by Jenny Johnson, President and CEO of Franklin Resources..They discussed secrets to a successful career in finance, the rise of alternative investments in the wealth channel, and how AI and blockchain technology will reshape the financial services industry. (Listen)
INSIGHTS
It’s likely not news to anyone reading this newsletter that AI is a big deal. However, it’s essential to recognize that we have experienced other ‘big deals’ that have affected nearly every aspect of the economy. Retired venture capitalist Jerry Neumann, writing in Colossus, looks at the historical analogues and how investors should think about the impact of AI on various industries and the market. In ‘AI Will Not Make You Rich’ he writes:
Knowledge-intensive services will get cheaper, allowing consumers to buy more of them, while services that require person-to-person interaction will get more expensive, taking up a greater percentage of household spending. This points to obvious opportunities in both. But the big news is that most of the new value created by AI will be captured by consumers, who should see a wider variety of knowledge-intensive goods at reasonable prices, and wider and more affordable access to services like medical care, education, and advice.
CHART OF THE WEEK
There is a good chance you have seen a scary headline about rising margin debt. These headlines are meant to get your attention, but they don’t tell the whole story. Callie Cox and Matt Cerminaro highlight a chart that normalizes margin debt as a function of the market cap of the S&P 500. That chart is a lot less scary.
MERCH
Two new The Compound trucker hats just dropped. You may have seen them out in the wild at Future Proof. They come in both Navy and Black/White. You can always check out all our merch at idontshop.com.
COMING SOON
This week on TCAF, Josh and Michael will be joined by Tom Sosnoff, founder and CEO of tastylive and co-founder of thinkorswim.
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