Since January 1999, Macquarie Bank’s shares have risen almost 1,400 per cent, and that excludes the returns from reinvesting dividends. That’s just capital gains alone. Assuming the Federal Labor Party is voted out, and their capital gains tax disincentives are unwound, there could be another Macquarie-Bank-like 1999 opportunity.
With stock markets recently retreating marginally from artificial intelligence (AI)-fuelled record highs, the question many thoughtful investors are asking is: Will the bull run resume, or is this the beginning of a broader correction?
For the last three years, the corporate world’s relationship with artificial intelligence (AI) has been a lot like a toddler taking its first steps, or maybe a baby monkey trying to work out what to do with a camera.
The defining irony of today’s stock market has got to be the yawning chasm between asset prices and their intrinsic values. As equity indices scale ever higher peaks, and as hyper-parabolic Price-to-Earnings (P/E) and Price-to-Sales (P/S) ratios are normalised, the underlying truths don’t seem to have changed. Eventually even this bubble must bust. U. S.
San Francisco and Lisbon-based KIÉR LIÓR provides institutional investors, family offices, and direct lenders with institutional-grade oversight, underwriting and portfolio management services for international private credit portfolios. On the subject of Private Credit, their musings are well worth your time, remembering the comments are typically U. S.
Based on the 2026–27 Federal Budget, the Australian Government expects its comprehensive tax reform package – anchored by changes to Capital Gains Tax (CGT) and negative gearing – to raise just over $40 billion over 10 years.
On May 11, Wall Street’s most bullish analyst raised his year-end S&P 500 target from 7700 to 8250, the highest forecast on Wall Street. He did so because of the strength and breadth of S&P 500 earnings during the Q1 earnings reporting season.
The four horsemen of the Apocalypse are Conquest, War, Famine, and Death. Artificial intelligence (AI) has ‘Conquered’; in the Middle East, ‘War’ is underway and could take years to resolve, and changes afoot in enterprise-level AI spending would be akin to ‘Famine’ for AI hyperscalers that have spent trillions on scaling out the technology.
In this week’s video insight, I explore the growing debate around whether AI stocks are in a bubble by revisiting a strikingly familiar research note published during the DotCom era in 1999.
