Instapundit - BUBBLES POP

“We’re in the crazy stage,” Smead told Business Insider, comparing today’s market to the eve of the dot-com crash in late 1999.

• Chief investor urges people to quit chasing AI, says it’s not a matter of if but when it ‘breaks’ — how to prepare.

He points to valuations he feels are untethered from reality.
Since early 2023, Nvidia’s value has jumped twelvefold to $4.4 trillion, while Palantir has skyrocketed twenty-eight-fold to $420 billion...
“We’re bumping up against history real hard now,” he warns, especially worried about many Americans have household wealth tied to Big Tech.

• Palantir’s P/E is closing in on 600. - Stephen Green